The AOCE and WB have moderate overall forecasts for the metals in 2025 inline with IMF forecasts for a decline in economic growth and inflation, although we see the probability of a stagflationary scenario as still reasonably high.Read More

The past year was a difficult one overall for the metals, with the main standouts to the upside being a geopolitical risk-driven gain in gold, a China-driven rise in iron ore and a surge in uranium on broadening global support for nuclear power (Figure 1). A jump in global interest rates to near two-decade highs saw recession fears persist all year, and while one still did not actually eru...Read More

This year the post-global health crisis boom was brought to an end by a surge in inflation to forty-year highs, a major rise in global interest rates in an attempt to curb the rising prices and surging geopolitical risk after Russia's invasion of Ukraine. While precious metals held up reasonably well as markets turned to them as a risk hedge, by Q2/22 the higher interest rates put an end t...Read More

Chile is the world leader in copper production, at 28.5% of the total in 2020, and this looks set to continue, with the country having the largest global reserves, at 23.0% of total. It is also the global leader for molybdenum, which is often found along with copper, and is a major lithium player, holding 51.1% of global reserves. Read More

Newfoundland has become a gold exploration hotspot over the past few years, with the sector seeing some of its strongest activity ever. While the province remains a small contributor to Canadian gold production, it has a substantial mineral industry well supported by the government, focused on iron ore, copper and nickel, and the surge in exploration suggests that gold output from the...Read More

Nevada is the core of the U.S. gold output, accounting for by far the majority, at 75.4% on average for the past year. The state looks set to remain a dominant player in U.S. gold, as it accounts for 49% of total U.S. reserves, with Alaska slightly ahead with 51% of reserves, but just 8.6% of current production. The U.S. accounts for 6.1% of global gold output, making Nevada one of the largest gol...Read More

The Golden Triangle in northwestern British Columbia has historically been a major site of Canadian gold production, beginning as early as the mid 1800s. There was a wave of production in the 1990s which cooled as the gold price declined, but larger scale production resumed in 2017, and the area has seen surging exploration interest over the past year, given that the region has some of the largest...Read More

In this report we outline the Quebec gold mining industry, including its major producers, and a survey of many of the junior miners focused on the province. Quebec accounts for 34% of Canadian gold production (second to Ontario, with 44%) and remains a major focus for both producers and junior miners.Read More

Red Lake has been one of the most prolific gold mining districts in Canada and the world, with exploration having started in the 1920s, and production, which began in the 1930s, continuing to the present day. The district is known for the high grade of its gold, its infrastructure, and strong institutional support, given the long history of mining in the area.Read More

This is What Budget Cuts Have Done to Detroit … And It's Freaking Awesome … Leaving aside the details on whether the U.S. budget is actually shrinking, one needs to look no further than the city of Detroit to find the spontaneous order, civic cooperation, and peaceful market forces that take over when government simply isn't around. – policymix.comDominant Social Theme: A...Read More

Economic focus should shift from the BRICs to Africa's emerging markets … Just as the green shoots of recovery are appearing in the UK, and positively sprouting upwards in the US, so it seems that the so-called BRIC economies – Brazil, Russia, India and China – are slowing. 'The BRICs really matter. They now account for one quarter of global GDP and, since 2005, they have...Read More

A short history of North America's financial panics … President Andrew Jackson rode a wave of hostility toward financiers into the White House. He declared America's national bank corrupt, and set out to thwart its activities. Private banks responded with rapid expansion, fuelling a real estate bubble. Jackson, who had paid off the national debt, insisted that public lands be paid fo...Read More

Three trends that will create demand for an Unconditional Basic Income … The digitization of our economy will bring with it a new generation of radical economic ideologies, of which Bitcoin is arguably the ?rst. For those with assets, technological savvy, and a sense of adventure, the state is the enemy and a cryptographic currency is the solution. But for those more focused on the decline o...Read More

This is What Budget Cuts Have Done to Detroit … And It's Freaking Awesome … Leaving aside the details on whether the U.S. budget is actually shrinking, one needs to look no further than the city of Detroit to find the spontaneous order, civic cooperation, and peaceful market forces that take over when government simply isn't around. – policymix.comDominant Social Theme: A...Read More

Fed mulls adjusting its tune to quell jittery markets … Federal Reserve officials are considering moving the goal posts on U.S. monetary policy with a promise to keep interest rates low for longer in the hopes of heading off a troubling rise in markets borrowing costs. Top Fed officials, who have pulled out all the stops to boost the U.S. recovery from recession, have worried for months that...Read More

The wheels are coming off the whole of southern Europe … Europe's debt-crisis strategy is near collapse. The long-awaited recovery has failed to take wing. Debt ratios across southern Europe are rising at an accelerating extreme austerity is breaking down in almost every EMU crisis state. And now the US Federal Reserve has inflicted a full-blown credit shock for good measure. A leaked re...Read More

Edward Snowden and the disaster of privatization … In May, computer analyst Edward Snowden flew to China, handed over volumes of National Security Agency surveillance data to a reporter, and launched a heated national conversation about our nation's surveillance state. Underscoring that conversation was the fact that Snowden was a private contractor, given access to a vast store of infor...Read More

Hedge Funds Are for Suckers … At the height of the financial crisis in 2008, a group of famous hedge fund managers was made to stand before Congress like thieves in a stockade and defend their existence to an angry public. The gilded five included George Soros, co-founder of the Quantum Fund; James Simons of Renaissance Technologies; John Paulson of Paulson & Co.; Philip Falcone of Harb...Read More

Elizabeth Warren Introduces 21st Century Glass-Steagall Act … At today's Senate Banking Committee hearing, Elizabeth Warren introduced the 21st Century Glass-Steagall Act of 2013, co-sponsored by Senators McCain, Cantwell, and King. This new bill mirrors the original 1933 Glass-Steagall Act, which separated traditional banking activity (like checking and lending) from the riskier activit...Read More

Fed mulls adjusting its tune to quell jittery markets … Federal Reserve officials are considering moving the goal posts on U.S. monetary policy with a promise to keep interest rates low for longer in the hopes of heading off a troubling rise in markets borrowing costs. Top Fed officials, who have pulled out all the stops to boost the U.S. recovery from recession, have worried for months that...Read More

The wheels are coming off the whole of southern Europe … Europe's debt-crisis strategy is near collapse. The long-awaited recovery has failed to take wing. Debt ratios across southern Europe are rising at an accelerating extreme austerity is breaking down in almost every EMU crisis state. And now the US Federal Reserve has inflicted a full-blown credit shock for good measure. A leaked re...Read More

Edward Snowden and the disaster of privatization … In May, computer analyst Edward Snowden flew to China, handed over volumes of National Security Agency surveillance data to a reporter, and launched a heated national conversation about our nation's surveillance state. Underscoring that conversation was the fact that Snowden was a private contractor, given access to a vast store of infor...Read More

Hedge Funds Are for Suckers … At the height of the financial crisis in 2008, a group of famous hedge fund managers was made to stand before Congress like thieves in a stockade and defend their existence to an angry public. The gilded five included George Soros, co-founder of the Quantum Fund; James Simons of Renaissance Technologies; John Paulson of Paulson & Co.; Philip Falcone of Harb...Read More

Elizabeth Warren Introduces 21st Century Glass-Steagall Act … At today's Senate Banking Committee hearing, Elizabeth Warren introduced the 21st Century Glass-Steagall Act of 2013, co-sponsored by Senators McCain, Cantwell, and King. This new bill mirrors the original 1933 Glass-Steagall Act, which separated traditional banking activity (like checking and lending) from the riskier activit...Read More

The Derp and Fall of Inflation Fearmongers … Eventually even charlatans, cranks, and economists notice when the world isn't cooperating with their grand pronouncements. Eventually reality wins. And after four years of making relentlessly wrong predictions about the second coming of Weimar, that eventually has come now for the inflation chicken littles. At least a little. Back in March 20...Read More

IMF cuts world growth forecast again … The International Monetary Fund cut its forecast for world economic growth for a third time this year due to slowing emerging markets and a prolonged recession in the eurozone. In an update to its World Economic Outlook, the IMF said Tuesday that it now expects world output to expand by just 3.1% in 2013, down from 3.3% in April. In January, it was fore...Read More

Technology and the American Summer Insurrection of 2013 Sanford, FL—Okay I said it. I just don't see this any other way. I really hope I'm somehow wrong. Unfortunately, history supports all of my fears. What's past is prologue, always. Our nation has never been so racially divided or hypersensitive. The George Zimmerman prosecution has not been able to deliver to the jury the ven...Read More

Historically, Egypt's revolution is more of the same … The history of revolutions tells us one sad fact: Egypt is in for a long period of violence, chaos and upheaval before it even begins to enter into the Promised Land of democracy. Many Western politicians and commentators expressed surprise and even alarm over Egypt's revolution, as the military ousted President Mohamed Mursi fro...Read More

The Derp and Fall of Inflation Fearmongers … Eventually even charlatans, cranks, and economists notice when the world isn't cooperating with their grand pronouncements. Eventually reality wins. And after four years of making relentlessly wrong predictions about the second coming of Weimar, that eventually has come now for the inflation chicken littles. At least a little. Back in March 20...Read More