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Unless Canada has awakened from it’s foolishness regarding having sold off it’s gold, and has begun to secretly buy, they will be left behind when a large revaluation of the gold price occurs. I do expect that after a large upward price revaluation mining activity and mining stock prices will take off.
That is their government. Question to the Canadian Tenters, in the US it is believed that only a very small percentage own precious metals, low single digits. Is it similar in Canada or based on being a resource heavy economy with lots of mining, is the percentage of precious metals owners significantly higher?
Other than jewelry and PM Investments their financial advisor has them in, Gold ownership is low single digits in Canada as well.
I do believe recent immigrants who came from countries where Gold protected them from currency depreciation own more.
More and More are aware that the price of Gold has skyrocketed…but they believe it has left them behind
Average Joe would never pay 200 K for half an once of Anything
I think the Govt will Nationalize the Gold Miners
Yes, likely in all three North American countries. The question is when and do most miners get at least some appreciation before it happens? If they pay the going price at the time might still get some benefit but will the higher fiat price make up for the decline in purchasing power of the currency.
I agree FGC — they will be forced to demand that “all gold mined in Canada stays in Canada” or the Canadian economy will have zero collateral and become poorer than Zimbabwe! If they print $CDN to pay for it, hyperinflation will destroy every social class but the elite.
Got it, thanks. I wonder if despite always hearing the narrative about Mexico being so poverty stricken, the culture there might be to hold much of whatever small level of savings most families have, in the form of silver?
In Canada, I think there are three groups that hold any AU/AG bullion… The Chinese ag/au, the East Indians au, old white guys au/ag (and there kids)…
In Richmond, during any runs, the Chinese would go to the coin shops and buy silver. (I wonder how much bullion is used for laundering money?)
While nothing will surprise me… I can the CDN and Mexican governments, not necessarily taking over the mining operations… too much f’n work… it’s just easier for them to take a “royalty tax on excess profits”… because those minerals belong to the people!!!