Editorial Page 2
Unlike industrial silver that also has had a historic relationship of “owning” gold, the financial side of precious metals has been controlled by big city manipulated Keynesian economics brought into play by FDR during the First Great Depression. The problem leading into the Second Great Depression has been compounded since World War Two is we have been having lately in international trade is that the Bretton Woods system of monetary management used by America in balance of payments accounting, is in trouble. The allegory of capitalistic kings in their counting houses today gloating over their ETF gold reserves isn’t quite as cute when one realizes that in China — that has totally passed by America, Canada, and even South Africa, in gold production— it is possible in the Communistic People’s Republic to buy a Gold Panda from a vending machine in a shopping mall using a credit or cash card. In North America the complaint when buying Gold American Eagles, and Gold Canadian Maple Leafs is that delivery may take two or three weeks.
As an Alaskan supply side silver miner sought after by “politically incorrect?” Asian buyers of our ore, closer by sea going barge to nonexistent smelters in the “not in my back yards states of Washington, Oregon, and California,” let me also add that after a family experience of prospecting for Alaska gold since the Gold Rush of 1998, that it seems rather strange to finally loose the stupid Vietnam War to investors from Saigon, quietly buying up historic placer properties.
The demand by the Chinese for photovoltaic silver to build their Swiss invented solar panels has also been leading the way in “industrials” as lead for storage batteries, zinc for frames, copper for wiring, needed to build their Swiss invented solar panels. The industrial side of gold seems to be the ability to connect battery powered miniature cell phones, which could be replaced by silver in Asia — if there were enough polymetalic minerals above ground to supply everyone in the second, and third, and fourth largest growing economies in the world, a smart phone, and a computer keyboard, no matter how big and clunky!
What the fuss about over the “filthy lucre” as gold, out of California that won the Civil War for the Union? Well the un-inflationary gold presidential candidate George Armstrong Custer paid his soldiers with same to finance his campaign by “his” discovery at Custer, in the Black Hills of Dakota. This is the same “good as gold financial vehicle” paid a Private at the time of Fort Sumpter $16 per month to risk his life, and a Private at the start of WWII $18 per month in a soon to be phased out gold backed banknote, that was eventually —very quietly— replaced with an ironic “In God We Trust.” Even I as a dumb high school dropout left a World History class with the knowledge that the Fall of Rome was the consequence of a metals based currency.
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