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Alasdair Macleod: The upside-down world of currency
By Alasdair Macleod
GoldMoney, Toronto
Thursday, November 17, 2022
The gap between fiat currency values and legal money, which is gold, has widened so that dollars retain only 2% of their pre-1970s value, and for sterling it is as little as 1%. Yet it is commonly averred that currency is money, and gold is irrelevant.
As the product of statist propaganda, this is incorrect. Originally established in Roman law, legally gold is still money and the states' debauched currencies are not, only a form of credit. As I demonstrate in this article, the major Western central banks will be forced to embark on a new round of currency debasement, likely to put an end to the matter.
... Dispatch continues below ...
... ADVERTISEMENT ...
i-80 Gold Hilltop Discovery Yields Bonanza-Grade CRD Mineralization
Company Announcement
Monday, November 14, 2022
RENO, Nevada -- i-80 Gold Corp. (TSX:IAU) (NYSE:IAUX) reports results from the first four holes drilled to follow up the recently discovered Hilltop Zone that have confirmed high-grade, polymetallic carbonate replacement deposits at the company's 100%‑owned Ruby Hill property in Eureka County, Nevada.
The discovery hole in the Upper Hilltop Zone returned an impressive 515.3 g/t silver, 28.9 % lead, 10.5 % zinc, and 0.9 g/t gold over 28.3 meters in hole iRH22-43. Results contained in this release are from the first four core holes drilled to follow up this discovery and additional drilling is being completed in both the Upper and Lower Hilltop horizons with assays pending.
Highlight results from recent core drilling in the Upper Horizon at the Hilltop target include:
iRH22-51 -- 33.0 g/t gold, 3,010.0 g/t silver, and 63.5% Pb over 0.6 meters and 3.1 g/t gold, 683.3 g/t silver, and 37.6% lead over 14.6 meters.
iRH22-53 -- 1.9 g/t gold, 631.3 g/t silver, 7.4% zinc, and 33.0% lead over 18.3 meters.
iRH22-54 -- 0.6 g/t gold, 374.1 g/t silver, 3.9% zinc, and 20.2% lead over 20.8 meters.
iRH22-55 -- 60.2 g/t gold, 908.7 g/t silver, 1.1% zinc, and 15.7% lead over 10.0 meters, including 83.2 g/t gold, 1,261 g/t silver, 1.5% zinc, and 22.1% lead over 7 meters.
Owing to this successful drilling at the Hilltop Zone, the program at Ruby Hill has again been expanded to facilitate additional step-out drilling at this target. In addition to the Upper Horizon, drilling is testing the Lower Horizon (assays pending), where the initial hole intersected multiple zones of mineralization including 238.8 g/t silver, 11.0% zinc, and 9.0% lead over 9.4 meters and 469.5 g/t silver, 11.8% zinc, and 18.2% lead over 2.1 meters.
"We believe that the grades of mineralization at Ruby Hill are truly world-class and the Hilltop Zone ranks among the highest-grade new discoveries being drilled anywhere on the planet,” i-80 CEO Ewan Downie said. ...
... For the remainder of the announcement:
Central to my thesis is that commercial bank credit will contract sharply in response to rising interest rates and bond yields. This retrenchment is already ending the Everything Bubble in financial asset values, is beginning to undermine gross domestic product, and, given record levels of balance sheet leverage, makes a major banking crisis virtually impossible to avoid. Central banks that are already in a parlous state of their own will be tasked with underwriting the entire credit system.
In discharging their responsibilities to the status quo, central banks will end up destroying their own currencies.
So why do we persist in pricing everything in failing currencies when that will almost certainly change?
When the difference between legal money and declining currencies is finally realized, the public will discard currencies entirely, reverting to legal money. That time is being brought forward rapidly by current events. ...
... For the remainder of the analysis:
https://www.goldmoney.com/research/the-upside-down-world-of-currency?gmrefcode=gata
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Toast to a free gold market
with great GATA-label wine
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http://www.gata.org/files/GATA-4-wine-bottles.jpg
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Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
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