Here’s an interesting Kitco interview of the author of “Precious Metals Investing for Dummies” author Paul Mladjenovic. In this interview that took place last year, Mr. Mladjenovic argues that the strength of the economy under Trump will boost inflation, leading to a rise in precious metals prices. In this interview, he predicted gold might surpass $1,300, which proved to be correct. His prediction of $25 silver was not borne out, given that silver has lagged behind gold in this new leg of the bull market. However, this can present a good opportunity for silver investors. Mr. Mladjenovic is also optimistic about gold mining companies that are well-run and have good reserves. It is worth noting that some economists believe the U.S. will actually be heading into a recession in the near-future given the long stretch of economic growth lasting almost a decade and the cyclical nature of recessions.
Excellent summation of the silver market.
Silver, No Longer the Poor Man’s Gold
By Michael Trudeau, Colonial Resources
The crises deepen. What crises you ask? Starting about sixty years ago, we began to accelerate in our usage of silver for industrial purposes. As the great industrial complex known as America grew, so did it’s appetite for silver and other industrial metals. In fact, it grew at such a pace that we devoured the above ground stockpile of silver at such a rate that it is now gone. That’s right, what took the entire world over five thousand years to acquire, was used up in just six decades, and the above ground stockpile has been completely eliminated. Silver is now rarer than gold! In fact, silver will be from this point forth, for all of eternity, rarer than gold. From this point forth, we work from current silver production alone. And, from this point forth, demand will…
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Sudan Gold Coin is the latest promising cryptocurrency project using blockchain technology with gold mining to attract investors seeking a cryptocurrency backed by a tangible asset. The team leading the project, hailing from Russia, has received permission from the Sudanese government to mine gold in northern Sudan, where important gold reserved are located.
The project estimates that its mine has 14,000 kilograms of gold reserves, based on geological surveys done between 2015 and 2017. This estimate is based on drilling and satellite observations of the area. In exchange for having access to these reserves, the government of Sudan has been promised a share of the profits, amounting to 17 percent.
By using blockchain technology, Sudan Gold Coin aims to bring transparency to its mining process, allowing investors to determine the value of each token based on gold output. 50 percent of the net profits of the mining operation will be used to buy back SGC (Sudan Gold Coin) tokens, creating strong demand for them and causing their price to rise for investors. By purchasing these tokens from the profits of the mine, the SGC token’s value will be linked to gold production, rising and falling depending on the productivity of the mine. All of the gold produced from the mine, and all expenses associated with the mine, will be recorded onto the blockchain for investors to view.
Sudan Gold Coin will also create a decentralized exchange so that gold can be purchased from any gold mine or dealer. In this exchange, the SGC token will be the primary currency for buying and selling gold. The gold mining business along with the decentralized exchange will support the value of the SGC token.
For investors seeking an opportunity to capitalize on the world’s hunger for gold and cryptocurrencies, the SGC token will provide key benefits. Like gold, cryptocurrencies are perceived to be a hedge against uncertainty in traditional markets. With this market turbulence, investors are seeking ways to participate in the blockchain revolution, of which cryptocurrencies are integral, which has enornous potential for growth. Both gold and cryptocurrencies are alternative investments for investors, allowing them to diversify their assets to minimize risk.
For investors, gold is seen as a stable and conservative investment, given its inverse relationship to inflation throughout history. While major paper currencies lose value year after year due to growth of the money supply, the supply of gold grows at a modest rate of one to two percent annually. With the global money supply growing exponentially while the supply of gold grows modestly, the value of gold tends to increase in the long run and maintaining its purchasing power for the same goods and services.
The SGC token runs on top of the Ethereum blockchain and is ERC20 compatible. A maximum of 20,000,000 SGC tokens will be minted, and a total of 1,000,000 SGC tokens will be held by the founders of the project to maintain and develop the platform. The starting price of SGC is estimated to be .05 grams of gold of 99.9 percent purity for each SGC token, equivalent to roughly $2. For investors who purchase during the ICO (initial coin offering), the cost will be .75 to $1 for each SGC token.
For more information about Sudan Gold Coin:
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=2190463.0
While skepticism has remained over the growth of cryptocurrencies based on blockchain technology, one cryptocurrency, namely GoldMint, aims to back its coin with actual gold. By doing so, GoldMint aims to bring confidence to investors that their money will be backed by a tangible asset with intrinsic value.
Gold is the perfect asset to back any token or share, or even sovereign currency, with, given that it has unique properties making it the quintessential form of money: it is rare, durable, divisible, malleable, and any unit of its weight can be exchanged for any other unit of the same weight. Gold also has utility as an industrial metal due to its conductivity, and has aesthetic appeal due to its bright yellow color when pure. These unique properties have made gold a universally recognized form of money that will bring legitimacy to any cryptocurrency seeking to assure investors of its value.
By using the blockchain — an accessible ledger that allows users to view data such as assets, ownership, and contractual information — GoldMint aims to bring greater transparency and ease of use to investors and traders of gold. The blockchain used by GoldMint is private and based on Graphene software, given that it is open-source and secure. Using the blockchain, users of the GoldMint platform can conveniently buy or sell gold futures at a predetermined price and time. Given the stability of the gold price throughout history, cryptocurrency investors and traders, as well as companies, can use the GoldMint platform to hedge against the volatility and risks in cryptocurrency and other markets. The platform aims to allow users to buy and sell gold swiftly and easily, including on mobile devices, thus bringing extra liquidity to the gold market.
Those who simply buy and hold gold through GoldMint will be able to weather any spikes in inflation from fiat currencies. While fiat currencies can be printed almost infinitely, the supply of gold due to mining increases one to two percent annually. Thus, gold is considered the supreme hedge against inflation, which has ravaged many nations throughout history, and even today afflicts much of the developed and especially the developing world. Moreover, the GoldMint cryptocurrency uses a “proof-of-stake” (PoS) protocol, which allows token holders to mine the cryptocurrency simply by storing it and periodically receive token amounts proportional to how much they own.
The unit of currency used by GoldMint is GOLD, with the symbol MNT, which is backed by physical gold of 99.9 percent purity as well as gold exchange-traded funds (ETFs). Those who own GOLD can use it as collateral for loans through GoldMint. Borrowers can also give GoldMint gold jewelry, coins, or other items as collateral, where it will be safely stored in its “custody bot.” Borrowers who default on loans will lose their GOLD to GoldMint. GoldMint will also issue credit cards with limits that depend on how much GOLD a user owns. By providing these essential services, GoldMint will function much like a bank with the added security of being backed by a precious, tangible asset.
Those who are interested in learning about or investing in a gold-backed cryptocurrency can read GoldMint’s whitepaper here. The GoldMint website also gives a comprehensive view of the organization’s services and goals, and provides the names of the organization’s executives, developers, and advisors.
While some critics point to cryptocurrencies as backed by nothing tangible or of intrinsic value, this is not the case with GoldMint. GoldMint gives investors the opportunity to get into both cryptocurrencies and gold, thus potentially enjoying the best of both worlds.
For more information about GoldMint:
For the first time ever, the bitcoin price — that is, for a full unit of bitcoin — is now worth more in U.S. dollars than an ounce of gold. This is big news for proponents of digital currencies. Of course, not everyone is convinced that bitcoin is a safe or savvy investment, despite increasing digitization of money. Here is a video on bitcoin’s recent surge.
Many investors in bitcoin and other cryptocurrencies believe that digital money is a way to diversify away from the risks of fiat money.
Nomi Prins, an author who has exposed the corrupt machinations and history of the U.S. banking system, has an excellent exchange with Greg Hunter in the interview below. She questions just how much of Donald Trump’s promises during his campaign will be fulfilled, and discusses interest rates and the national debt.
She asserts Trump will meet resistance with plans to increase fiscal spending from Republicans in Congress, and the Federal Reserve will be unlikely to raise rates significantly in 2017 with an economy that is fundamentally still weak.
Jim Rickards asserts the next major financial crisis is around the corner, which will usher in the use of Special Drawing Rights (SDRs) as the next global reserve currency to bail out bankrupt nations such as the U.S. He asserts the next crisis could cause the closure or restricted use of banks and other financial institutions for several weeks. He also believes any deflation will be countered by inflation by the world’s central banks — in this respect, his outlook is similar to Michael Pento‘s. Rickards believe tangible assets such as gold, fine art, and real estate will maintain their value during this financial storm.
Here is the interview with Greg Hunter.