Scotiabank to close its metals business - no more gold and silver from them.

This is about the South Africa and Peru mines closing:
[link to www.forbes.com (secure)]

"A major “outage” event, the closure of South Africa’s big mining industry for 21 days as a precautionary measure to stave off the spread of the coronavirus, is expected to flow into the prices of a wide range of minerals and metals.

Last year, South African supplied an estimated 75% of the world’s platinum and 40% of its sister metal, palladium."

But that's only for 21 days. Wonder if they will reopen. Says that Canada mines have better automation that makes mining less labor intensive than in South Africa.

If there is a domino effect of closing mines then metals will rise... if production kicks up... I dunno.

But all my jewelry and coins fell into the river.

More on the South Africa Mine closures:

[link to www.bloomberg.com (secure)]
"The sweeping shutdown is unprecedented in the 150-year history of South Africa’s mining industry, which today employs more than 450,000 people."

"Harmony Gold Mining Co., the nation’s biggest producer of the precious metal, to top platinum miner Sibanye Stillwater Ltd. are bracing for hits" (on value) as they keep the underground pumps running.

Sounds like the mines will be flooded and not easily opened back up.

Then they will shoot you and your family and dump your bodies in that same river as an example to others to not lose your things.

(Happened in Europe during WW2, and happened in Russia when communists took over)

Yes, correct.
Isn't this world crazy?

Bingo! ABN Amro, another serial suppressor of precious metals prices, closed their bullion trading desk just a few weeks ago. The prices you see on your computer screens aren't real; they're the phony, massively-manipulated paper prices. I suspect that, within the next year or two, we're going back to sound money. It'll be fascinating to see what the REAL prices of gold and silver are.

Think it will take 2 years?

The true price of gold, per ounce, is equal to one DOW...

Silver is 8-1 to gold, from that price...


[link to www.marketwatch.com (secure)]

[link to www.macrotrends.net (secure)]

what's that in dollar amounts?

If thats true and not saying it is but it would mean silver would be $210 an oz.

That sounds about right.

Think again...

( add another 0)

My mistake there. I worked it out from the dollar price of gold but thats not one DOW.