Saturday, January 20, 2018

Peak gold mining? 2018 appears to be the year that gold mining output falls off a cliff

According to a recent presentation given to the Empire Club of Canada regarding market trends for 2018, a portion of the presentation showed what is happening in the gold mining sector and how it has been affected by depressed and manipulated gold prices.

According to Nick Barisheff over at the Market Oracle, gold production is expected to fall off a cliff beginning here in 2018, and will commence declining throughout the next 11 years.

Which begs the question... have we reached the point of Peak Gold?

Annual mine supply is about 2,800 tonnes, and it has been in decline since peaking in 2016. It is projected to decline by 76% by 2029. New mines take about 19.5 years to go into production. No new major discoveries over 3 million ounces have been made since 2009. 
As a result, the only adjusting factor for increased demand is an adjustment in price. With the global financial system experiencing a condition not seen since 1929 of a simultaneous triple bubble in stocks, bonds and real estate sitting on a historically unprecedented pile of $270 trillion of unpayable government debt, subprime auto debt, student loan debt, margin debt and consumer debt, in addition to a very dangerous mountain of over $600 trillion of derivatives, conditions are set for a major market correction. This will result in a massive increase in the price of gold as investors flee to the safety of gold. – Market Oracle


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