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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 

Condensed Articles

September 2, 2016

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GOLD

By Frank Holmes

(condensed)

Gold is one of the rarest elements in the world, if we took all the gold ever mined and melted it down to a 20.5 meter-sided cube, it would fit snugly within the confines of an Olympic-size swimming pool. Unlike fiat money, of which we can always print more, there’s only so much recoverable gold in the world. The only way for us to acquire more is to dig.

But for how much longer? Goldman Sachs analyst Eugene King took a stab at answering this question last year, estimating we have only “20 years of known mineable reserves of gold.” The operative word here is “known.” If King’s projection turns out to be accurate, and the last “known” gold nugget is exhumed from the earth in 2035, that won’t necessarily spell the end of gold mining. Exploration will surely continue as it always has – though at a much higher cost.

Global gold output has been contracting since 2013. What’s more, few new projects and expansions are expected to come online this year, writes Thomson Reuters, “and those in the near-term pipeline are generally fairly modest in scale.” Indeed, if we look at projects that opened in just the last two or three years, we see that they’re of lower grade, meaning they don’t produce nearly as much as older, easy-to-mine gold deposits.

Every year, the pursuit of gold becomes increasingly more challenging – not to mention more expensive – requiring ever more sophisticated tools and technology, including 3D seismic imaging, direction drilling and airborne gravimetry. Compounding the issue is the fact that the number of years between discovery of a new major deposit and production is widening, due to the increase in feasibility assessments, compliance, licenses and more. The average lead time for gold mines worldwide is close to 20 years, though it can sometimes be more, depending on the jurisdiction