Tuesday, April 5, 2011

Gold hits an all-time high

The crumbling Portuguese economy is probably one of the driving forces behind gold's rise today.  Good news for miners.  All these problems make me think of Pierre Berton's book 1967 - The Last Good Year. A family friend gave it to me years ago.  Peter Grandich said everyone should spend a couple of hours to watch the Inside Job.  I sure will. It was great that Amanda Lang came to the STA Convention last year. I found her talk quite alarming.  There are a lot of wrongs in this world.  The craziness of Wall Street and sovereign debt are among them.  I had seen a Financial Post article about the potential of sub-Saharan Africa for investment.  This is indeed true.  I was amazed that there are now mining prospects in Eritrea and Ethiopia - two formerly war-torn countries.  I've certainly been fortunate to cash in on the success of Continental Gold in Colombia.  What a change of events there too!  Didn't FARC release some captives just last year?  The only problem - and it's a big one - is how is the whole world suppose to sustain economic growth?  If the under-developed world wants what we enjoy, how can it continue?

I've decided to use some of my geophysics background to make some $$ from junior miners. Unfortunately, I never took electromagnetic methods because I was chicken and I figured I was only interested in seismology anyways.  Big mistake.  Although I think I can read IP profiles like the ones from Romios Gold, it would have been better to know the theory behind all those methods!

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