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Mike Kosares: Establishment economist warns more dangers now than 2007

Section: Daily Dispatches

9:40a ET Wednesday, September 13, 2017

Dear Friend of GATA and Gold:

USAGold's Mike Kosares today calls attention to an interview just given by William R. White, the former official of the Bank for International Settlements who in 2005 candidly admitted (to an audience he considered reliable) that a primary purpose of central banks is to "influence" the price of gold. (See

Kosares notes that White told Bloomberg News that the world economy today faces greater dangers than it did just before the financial crisis of 2008, that central banks have been "stoking debt bubbles," that much debt can never be repaid, and that bank bail-ins will be required to restore the financial system.

... Dispatch continues below ...


NuLegacy Identifies New Gold Zone at Red Hill Property

Company Announcement
Wednesday, September 13, 2017

NuLegacy Gold Corp. reports that it has discovered another important gold zone on its 38-square-mile flagship Red Hill property in Nevada's Cortez gold-trend, one of the world's premier gold mining jurisdictions.

Hole VIO17-01, drilled into the "VIO" zone, which is over 4 kilometers east of the Iceberg gold deposits, returned 33.5 meters (110 feet) of 0.65 grams/tonne gold and 5.5 grams/tonne silver starting at 99.2 meters and includes 9.1 meters (30 feet) of 1.8 grams/tonne gold and 17.6 grams/tonne silver.

"The gold encountered in this drill intercept appears to be epithermal-style gold mineralization, an entirely different deposit type from that of our Carlin-style gold deposits," NuLegacy CEO James Anderson said. "This is an exciting new development for building potential gold resources at Red Hill."

... For the remainder of the announcement:

Kosares writes: "I consider White's argument one of the strongest I have seen for gold and silver ownership as long-term safe-haven hedges. The catalyst for that debt deflation could be the realization in global financial markets that the central banks, as White describes it, have backed themselves into a corner over the past 10 years with nowhere to go. In other words, the next time around -- the next time the black swan lands -- we will be on our own, walking the high wire without a central bank safety net."

Kosares' commentary is headlined "Prominent Establishment Economist William White Warns 'More Dangers Now than 2007" and it's posted at USAGold here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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