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WHAT IS HAPPENING HERE?

Dr. Kal Kotecha Dr. Kal Kotecha, Junior Gold Report
0 Comments| April 13, 2020

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The Covid-19 epidemic is leading to deaths and sickness, causing shut downs, stock market crashes, isolation and the list goes on and on. It is apparent to see what is happening economically. Kaboom, the economy is collapsing, drowning in its own debt leading to possibly thousands upon thousands of bankruptcies. Is this the end of the world as many believe? I do not think so but it could be the end of the world that we once knew. This is about a paradigm shift. Will humankind change its ways to be more socially responsible after this is over? Is there a bigger wave of Covid-19 coming and more economic downturn?

According to Bloomberg, the IMF sees the world in a worst recession since the Great Depression. “The International Monetary Fund sees the world economy suffering its worst recession since the Great Depression this year, with emerging markets and low-income nations in Africa, Latin America and Asia at particularly high risk. With half of the IMF’s 189 member countries seeking aid, the executive board has agreed to double access to its emergency financing to meet expected demand of about $100 billion, Managing Director Kristalina Georgieva said in a speech on Thursday. The IMF’s baseline outlook is for a partial recovery in the global economy in 2021 if the pandemic fades in the second half of this year to allow a gradual lifting of containment measures, Georgieva said. She stressed that uncertainty about the coronavirus duration means things may wind up being even worse.” https://www.bloomberg.com/amp/news/articles/2020-04-09/imf-sees-world-economy-in-worst-recession-since-great-depression

Late 2020 to 2021 and even beyond is shaping up to be some of the worst economic times that we may experience since the Great Depression. During my talk at PDAC 2020, I outlined that I believe we are entering into a period of catastrophic demise of many systems, not just economic. Greed of many sorts has been a major catalyst that lead the economic upturn in the economy for over a decade. It was an intense greed and the more that was being acted on, the harder the eventual fall was going to be. Of course the Coronavirus epidemic had a lot to do with the current downturn but I personally feel that it was a catalyst to the inevitable. The longer the economies of the world are essentially shut down, the longer the downturn should be.

The Fed/Central Bank and other Central Banks of the world are printing money, lots of money and they seem to be giving a lot away. Maybe money does grow on trees. Printing of money generally bodes well for the ascension in the price of gold. Gold has held its own even with the strong $US. I believe that inevitably the $US will fall which again bodes well for the price of gold. We may see a breakout in the price of gold and with any luck, the markets may recover in the short term which may result in the junior mining market getting a boost. It is very hard to predict anything in these tumultuous times but I feel one thing is for sure – change is upon us.

Happy Investing!

Dr. Kal Kotecha

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