Bryan Slusarchuk, President and Director, K92 Mining, expressed concern over the fact that Canada
no longer has any gold. We, at The Daily Coin, share his sentiment and
express our concern as often as possible; not for Canada’s sake, but for the
U.S.
If a nation holds no gold, how does the government control their currency?
A nation, like Canada, which admitted a few weeks back they had liquidated
their national gold holdings finds itself without limits to the amount of
paper fiat currency the Finance Minister can print. The rationale is Canada
holds an excessive amount of U.S. dollars and, therefore, has the security
necessary for the country to function and remain solvent. That’s right,
unless the unbacked U.S. dollar has an issue or is devalued by 20-30-40% over
a few weeks, months or years. Then what?
The U.S. dollar is backed by the full faith and credit of the U.S. federal
government. A recent poll stated the American people as having a 4% trust in
Congress. That means 96% of the citizens do not trust Congress. Not much
faith in that statement.
Gold, on the other hand, has been valued for more than 5,000 years and has
acted as currency for most of that timeline. When you own gold, you own
money.
K92 Mining has proven gold in the ground. Not only that, this company
purchased, for pennies on the dollar, an almost fully functioning gold mine.
Not only is there proven gold in the ground there is silver and tons of
copper.
On April 24th we reported that First Majestic had been contacted by a
technology manufacturing company to secure a stream of silver. This screams
of a bad situation that could get worse before it improves. China, as we have
reported for several months, has been acquiring mines all over the world in
order to secure a steady stream of the necessary raw materials for their
manufacturing base.
We at The Daily Coin have also reported how the mining companies,
globally, are beginning to consolidate and it appears this consolidation may
be taking hold at the country level as well. Concentrated mining companies,
in concentrated mining regions, make for a very interesting future regarding
gold, silver and various other commodities that are mined.
Bryan shares his thoughts on the current state of mergers and acquisitions
and what he sees as an interesting future for the mining industry.
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Rory Hall, Editor-in-Chief of The Daily Coin, has written over 700
articles and produced more than 200 videos about the precious metals
market, economic and monetary policies as well as geopolitical events since
1987. His articles have been published by Zerohedge, SHTFPlan, Sprott
Money, GoldSilver and Silver Doctors, SGTReport, just to name a few. Rory
has contributed daily to SGTReport since 2012. He has interviewed experts
such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente
and Peter Schiff, to name but a few. Visit The Daily Coin website
and The Daily Coin YouTube channels to enjoy original and
some of the best economic, precious metals, geopolitical and preparedness
news from around the world.
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The author is not affiliated with, endorsed or sponsored by Sprott Money
Ltd. The views and opinions expressed in this material are those of the
author or guest speaker, are subject to change and may not necessarily
reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the
accuracy, completeness, timeliness and reliability of the information or any
results from its use.
