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IAMGOLD Corp T.IMG

Alternate Symbol(s):  IAG

IAMGOLD Corporation is a Canada-based intermediate gold producer and developer. Its principal activities are the exploration, development, and operation of gold mining properties in North America and West Africa. Its projects include Essakane, Westwood and Cote Gold. The Essakane project is in north-eastern Burkina Faso, West Africa. It straddles the boundary of the Oudalan and Seno provinces in the Sahel region of Burkina Faso and is approximately 330 kilometers (km) northeast of the capital, Ouagadougou. The Westwood Project is located on the Doyon property, 2.5 km east of the former Doyon Gold Mine in Bousquet Township. The Cote Gold Project is in the Chester and Yeo Townships, District of Sudbury, in northeastern Ontario. It owns a 100% interest in the Nelligan Gold Project, located 60Km southwest of Chibougamau. It holds claims of Nelligan, as well as other earlier stage exploration properties in Northern Quebec. It also owns Rich Lake and Lac a l’Eau Jaune (gold) properties.


TSX:IMG - Post by User

Bullboard Posts
Post by iwasgoldon Sep 18, 2014 1:39am
149 Views
Post# 22946865

debt

debtLast year the US national debt rose about 1 trillion, September to September. This is about $3000 per person per year at this rate, never mind per net contributor to the economy.  The government continues to issue bonds to raise the money, and the bonds get bought, probably because the US still dominates world financial systems. The Fed continues to buy bonds and securities, but has not yet raised interest rates. There has been some speculation that they may raise rates eventually, and so to that end some people thought they might change the way they talk about rates at the current meeting. No such luck. During the Obama administration more debt has been piled on than all other presidents combined, in pure dollar amount.

My take on this is that the debt, including unfunded liabilities like government pensions etc, is rising exponentially, not linearly, so the government is at a point where higher interest rates would be also exponentially more harmful, adding pressure to pressure. I believe there is no intent whatsoever to raise rates at the Fed. The days of Paul Volker size rates will not come back,  if they can help it.  They will always fiind an excuse. Right now they "worry" about unemployment. Note that they don't worry about the growing gap between rich and poor, or the need for people living on savings to earn a decent return. They never will.  They are allowing a bubble to develop in the stock market, and when it bursts, whether spectacularly or with a whimper, that will be their next excuse to keep rates low. Then there will be something else. As long as the US debt remains  large rates will remain low...unless outside forces intervene. Perhaps the US will find they can't sell bonds anymore.  Perhaps bankruptcies at all levels force their hand. Perhaps there will be an energy or environmental shock.  Perhaps the rest of the world put together a new reserve currency.  In the end, inflation has to get out of hand once people realize the dollar has less and less value at a faster and faster rate. It will be a rush to accumulate hard assets and prices will skyrocket.  I suggest that those people who can, buy property somewhere with farmland where the weather is decent and water plentiful. Get ready to hunker down. The social upheaval that could happen will make the Great Depression look like playground tag.
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