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Money printing machines on - Gold price up

The USA has adopted a three-trillion dollar aid package, another one is under discussion. On the other side of the Atlantic, in Britain, the government is spending money endlessly

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The budget deficit there in April was a record 70 billion euros, certainly mainly due to extraordinary corona measures. This was the highest level ever achieved in 2019. This gives rise to considerations as to whether a gold standard should not be reintroduced.

The gold standard ended in 1971 and it secured a national currency by a real asset, namely gold. This means that the monetary system in existence today is almost 50 years old. By the way, the monetary systems usually change every 100 years. So it is time for a change. The US dollar was the leading reserve currency, it still is today, but certain tendencies are discernible: While dollar assets accounted for about 70 percent of global reserves in 2000, today they account for only about 62 percent.

China is interested in a postponement. The Middle Kingdom has bought a lot of gold in recent years. Many other countries have also greatly increased their gold assets, mainly to shake off their dependence on the US dollar.

Gold cannot be printed, money can. The seven largest central banks made net capital purchases totalling USD 2.5 trillion in March and April, which means that in one way or another they also created new money. In April alone, purchases were almost five times higher than the previous high in April 2009.

One winner of the Corona pandemic is certainly the gold price. And that it has risen so sharply, that gold is so sought after as a saviour in crises, investors should buy more gold shares. Because they can win with a leveraged buy when the price of gold rises.

High-quality gold companies in mining-friendly countries include Filo Mining (a company of the Lundin Group) and Mawson Resources. Filo Mining has a 100 percent interest in the Filo del Sol gold-copper-silver project in northern Chile. It contains an estimated 4.4 million ounces of gold, 147 million ounces of silver and 3.1 billion pounds of copper.

Another company in the gold sector, Mawson Resources, is also convincing with its projects. One of them is the Rompas-Rajapalot project, the most advanced gold-cobalt discovery in the Finnish part of Lapland. And once with its Sunday Creek gold project (almost 20,000 hectares) in the Goldfields of Victoria, Australia. Very good drilling results are available here (up to 40 grams of gold per tonne of rock).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also 
applies: https://www.resource-capital.ch/en/disclaimer/ 

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Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

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