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

Legal marijuana is the fastest-growing industry in the United States and if the trend toward legalization spreads to all 50 states, marijuana could become larger than the organic food industry, according to a new report obtained by The Huffington Post. Researchers from The ArcView Group, a cannabis industry investment and research firm based in Oakland, California, found that the U.S. market for l...Read More

Why we need a North American Passport … The future success of North America depends partly on how the U.S., Canada and Mexico work together … The future of the United States lies in North America. This is not a geographic truism, but a strategic imperative. Generations of Americans, distracted by far-flung crises, have long taken our own region for granted. This must change if the 21st...Read More

Legal marijuana is the fastest-growing industry in the United States and if the trend toward legalization spreads to all 50 states, marijuana could become larger than the organic food industry, according to a new report obtained by The Huffington Post. Researchers from The ArcView Group, a cannabis industry investment and research firm based in Oakland, California, found that the U.S. market for l...Read More

Central Bank trickery without real reform … 'There needs to be a certain credibility," said Mario Draghi, the president of the European Central Bank, as he launched outright eurozone quantitative easing on Thursday. "Today, we're showing that such credibility is deserved. When used by an economist, "credibility" is a very important word. But I'm afraid I take...Read More

India world's second most trusted nation, says survey … Moving up the ranks, India has emerged as the second most trusted country in the world in terms of faith reposed on its institutions even as globally trust levels have fallen, says a survey. As the world's rich and powerful gather in the Swiss resort of Davos, a study by public relations firm Edelman has found that general level...Read More

Central Bank trickery without real reform … 'There needs to be a certain credibility," said Mario Draghi, the president of the European Central Bank, as he launched outright eurozone quantitative easing on Thursday. "Today, we're showing that such credibility is deserved. When used by an economist, "credibility" is a very important word. But I'm afraid I take...Read More

India world's second most trusted nation, says survey … Moving up the ranks, India has emerged as the second most trusted country in the world in terms of faith reposed on its institutions even as globally trust levels have fallen, says a survey. As the world's rich and powerful gather in the Swiss resort of Davos, a study by public relations firm Edelman has found that general level...Read More

European economic storm is casting dark clouds over Davos … Slow growth and low inflation seem to have become the established condition, at least for advanced Western economies … This year's World Economic Forum is witness to a kind of capitulation, or sense of resignation. – UK TelegraphDominant Social Theme: Times are tough, even for top servants of the system.Free-Market A...Read More

The winter brings the heat in Ukraine … The fighting in Ukraine has returned to an intensity not seen since last summer, and the government claims Russian weapons are once again streaming across the border to support the rebels. So it is a curious moment for the European Union's top foreign policy official to bring up the prospect of normalizing relations with Russian President Vladimir...Read More

European economic storm is casting dark clouds over Davos … Slow growth and low inflation seem to have become the established condition, at least for advanced Western economies … This year's World Economic Forum is witness to a kind of capitulation, or sense of resignation. – UK TelegraphDominant Social Theme: Times are tough, even for top servants of the system.Free-Market A...Read More

The winter brings the heat in Ukraine … The fighting in Ukraine has returned to an intensity not seen since last summer, and the government claims Russian weapons are once again streaming across the border to support the rebels. So it is a curious moment for the European Union's top foreign policy official to bring up the prospect of normalizing relations with Russian President Vladimir...Read More

Fed Officials Reassess U.S. Outlook Amid Global Weakness … Federal Reserve officials are starting to reassess their outlook for the economy as global weakness and disappointing data on American consumer spending test their resolve to raise interest rates this year. San Francisco Fed President John Williams last week said he will trim his U.S. estimate because of slower growth abroad. Atlanta...Read More

Is marijuana really as dangerous as heroin and LSD? Finally, a welcome legal review … A federal judge has done what Congress and the Obama administration have failed to do — open a discussion on whether marijuana should continue to be listed as a Schedule 1 drug, a classification that is supposed to be used only for the most dangerous, addictive drugs, such as heroin and LSD. It should...Read More

Fed Officials Reassess U.S. Outlook Amid Global Weakness … Federal Reserve officials are starting to reassess their outlook for the economy as global weakness and disappointing data on American consumer spending test their resolve to raise interest rates this year. San Francisco Fed President John Williams last week said he will trim his U.S. estimate because of slower growth abroad. Atlanta...Read More

Is marijuana really as dangerous as heroin and LSD? Finally, a welcome legal review … A federal judge has done what Congress and the Obama administration have failed to do — open a discussion on whether marijuana should continue to be listed as a Schedule 1 drug, a classification that is supposed to be used only for the most dangerous, addictive drugs, such as heroin and LSD. It should...Read More

Central bank prophet fears QE warfare pushing world financial system out of control … Former BIS chief economist warns that QE in Europe is doomed to failure and may draw the region into deeper difficulties … The warnings come just as the European Central Bank prepares a blitz of bond purchases at a crucial meeting on Thursday. – UK TelegraphDominant Social Theme: Let's roll...Read More

The Fix is In: Why Gold Price Manipulation is Now a Global Effort … A lot of people think about gold as a percentage of total reserves. So countries have reserves. What percentage of your reserves consist of gold? For example, a lot of people are surprised to learn that the United States has 70 percent of its reserves in gold. China has about 1 percent of its reserves in gold. So people look...Read More

Central bank prophet fears QE warfare pushing world financial system out of control … Former BIS chief economist warns that QE in Europe is doomed to failure and may draw the region into deeper difficulties … The warnings come just as the European Central Bank prepares a blitz of bond purchases at a crucial meeting on Thursday. – UK TelegraphDominant Social Theme: Let's roll...Read More

The Fix is In: Why Gold Price Manipulation is Now a Global Effort … A lot of people think about gold as a percentage of total reserves. So countries have reserves. What percentage of your reserves consist of gold? For example, a lot of people are surprised to learn that the United States has 70 percent of its reserves in gold. China has about 1 percent of its reserves in gold. So people look...Read More

Middle class decline looms over final years of Obama presidency … Barack Obama enters the final two years of his presidency with a blemish on his legacy that looks impossible to erase: the decline of the middle class he has promised to rescue. – ReutersDominant Social Theme: Barack must try harder.Free-Market Analysis: The West's economic system, we know now, regularly strips peopl...Read More