Last week I attended a conference in Orlando for the International Precious Metals Institute. I must admit, Orlando in June was daunting but upon arrival my opinion quickly changed. This industry is truly incredible. I learned about Precious metals investments, futures, forwards, and mining specifics. Since I am certainly not proficient enough to share that type of material with you, I figure I will share a few general things I think we will all find interesting.
- Gold Prices are based on full faith in gold. Not “Full faith and credit”. No credit. Just faith.
- US Manufacturing has actually increased since 1987 but fewer employees are needed because of automation. So yes, America does make things- actually more than ever.
- ¾ of the US gold imports are from South America.
- The value of mining imports are more profitable than cocaine or heroin imports combined.
- I learned about the legal term “willful blindness” and how if a company as a whole is convicted of importing illegal materials, an individual can also be personally charged and fined.
We like to help our clients and friends here at Pease & Curren so if you like this blog- please sign up.
If you are a precious metals scrap buyer – check out our Buyer Beware newsletter, it is a monthly newsletter to help you and your staff to spot fakes and become better buyers.