Friday, July 12, 2013

Where's Edward?

Weekend Chillout - Rock On!

As the precious metal's and seemingly every other market rocked on into the weekend on the back of Uncle Ben's easy talking so at the Weekend Chillout so do we.

From last Saturday's episode of the world's greatest quiz show - Rockwiz, featuring Chet Faker & Nkechi Anele

Geo Science Humor

Just had this video sent to me by a geologist friend and client of mine. A brilliant "Downfall" parody.

Amazing Gold Metric

I was just reading a BBC article on the South African gold mining industry when I stumbled across a metric I had never heard quoted before:

Much of the easily accessible gold has already been taken out of the ground. That which lies in the deeper reefs is becoming increasingly costly and dangerous to get at.

In addition to this, over the past five years, wages have increased by an average of 12.3% per year, compared with an average inflation rate of 5.9%.

During the same time, gold production fell by 21%. Last year, the average worker produced 1.18kg of gold. In 2007, that figure was 1.49kg.
I thought I would do some math on that figure. It turns out that on average it takes a miner 10 days of hard labour down a super heated hell hole to produce just 1oz of pure gold.  365 / (1.18 x 32.15) = 9.62

A 400oz good delivery bar equates to 11 years labour.  (400 x 10) / 365 = 10.96

I hope you appreciate your gold even more now.

Indian Gold Dealer: Government Blames Gold For Account Deficit, Crushes Demand By 86% With Punitive Taxes

An interesting interview by Tekoa Da Silva with a Vishal Vyas, head of operations at India’s top bullion dealer, Pushpak Bullions Pvt. Ltd. Listen to the interview here

For more from Tekoa Da Silva go here

Keiser Report - Facing New Peasant Revolt

From RussiaToday

Published on Jul 11, 2013
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the puffery behind politics and finance that has spawned a generation unable to see or understand the world around them, a world in which the chief economist of a major bank is warning we are on the eve of a new Peasants' Revolt. 

In the second half, Max talks to Professor Yanis Varoufakis about the latest in the Greek bailout saga, the collapsing German export market and what the future holds for Italy.

'Bargain or Bubble?' interview with Rick Rule of Sprott Global

From ABC Bullion

ABC Bullion's Chief Economist Jordan Eliseo interviews legendary investor Rick Rule on what's next for gold. Broadcast 10th July 2013.