Markets reacted negatively to the Spanish Bailout of a $125 billion as they keep a close eye on a Greek election this Sunday and the Federal Reserve Board meeting on June 19th and 20th. Investors feel that there is the possibility of a pandemic meltdown and that the Spanish bailout has little impact other than saving time. To avoid such a catastrophe, the Greeks may elect to stay in the Eurozone. This may effect the Fed's decision's on June19-20 to implement QE 3 in addition to buying 475 billions of Treasury bonds over the coming 9 months.
This may cheapen paper money and simultaneously benefit "real Money"--GOLD and SILVER both in the form of bullion and resources in the earth. Silver (SLV) and gold are forming a descending triangle for many months but has not violated 2011 lows. After QE2 we saw a massive move into silver when it outperformed gold...could QE3 be a catalyst to start something similar?
It is known that Barrick Gold fired its CEO and old timer Peter Munk took over. The gist of his decision is based on his contention that the big miners are faced with depleting reserves and resource nationalism. This may explain their recent decision to invest $64 million into exploring the Cortez Trend right here in mining friendly Nevada.
Interestingly, one of our recommendations next door to Barrick is Miranda Gold. They may possess the most significant drill intercept outside of Barrick on the Cortez Trend at their Red Hill Project which is contiguous with Barrick’s major 2011 Red Hill discovery of over 5 million ounces of gold.
Munk is on record saying high grade deposits are becoming difficult to find. Miranda may fill the bill if one of their nine ongoing projects hits pay dirt. Watch a recent video with legendary precious metals investors Brent Cook, Adrian Day and Rick Rule describing why they like Miranda Gold’s prospect generator business model.
It is known that Barrick Gold fired its CEO and old timer Peter Munk took over. The gist of his decision is based on his contention that the big miners are faced with depleting reserves and resource nationalism. This may explain their recent decision to invest $64 million into exploring the Cortez Trend right here in mining friendly Nevada.
Interestingly, one of our recommendations next door to Barrick is Miranda Gold. They may possess the most significant drill intercept outside of Barrick on the Cortez Trend at their Red Hill Project which is contiguous with Barrick’s major 2011 Red Hill discovery of over 5 million ounces of gold.
Munk is on record saying high grade deposits are becoming difficult to find. Miranda may fill the bill if one of their nine ongoing projects hits pay dirt. Watch a recent video with legendary precious metals investors Brent Cook, Adrian Day and Rick Rule describing why they like Miranda Gold’s prospect generator business model.
Disclosure: Author is Long Miranda and Miranda is a featured company on Goldstocktrades.com
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