First Mining Gold Corporation (QX) (FFMGF) News

Here's someone talking about the debt and deficits. Steve Hanke. He even talks about what needs to be done to solve the problem. Why in God's name this Man isn't helping guide the monetary policy of this country is a mystery to me.

Go to about 17:20 in the interview and Hanke talks about what they need to do. What he's saying is probably what they'll end up doing. A constitutional amendment to make the fucking politicians control their spending.

He makes the obvious point if spending doesn't come under control SPENDING STOPS. Listen to the part where he talks about how much more it takes to run a government than what they're telling us.

I like the term "debt charade" you used. Funny I never heard one individual talk about it at the Republican convention this week. You know damn well it won't be mentioned at the Dems convention.

No one is holding anyone's feet to the fire about it, that's IMO why it's going to be such a devastating event when it finally hits. Everything's fine if you have the money to print to pay for anything your heart desires, but when you can't do that anymore it becomes a VERY BIG PROBLEM and people suffer for it. It's called living above your means and has gone on for too long in this country.

As David Hunter has said, they probably have ONE more round of money printing coming, then they're done. That number will be mind-boggling and the inflation that comes after it will be off the rails.

Enjoyed the article. Most congressman want the lower rates to continue the US debt charade. Banksters want them to foster lending which, of course, generates fees and interest income for the banksters. Can you imagine how much they'll have to print in the next round of QE?

I heard the budget deficit is projected to be 1.3 trillion next year. Outrageous but no one is holding their feet to the fire over it.

A very good read on how the Bankster SCAM works and what's coming. Like it says near the end of the article, Powell will decide to start dropping interest rates whether they're close to a 2% inflation target or not. He's promised that they'll hold until then, but of course, that's a lie.

Cooking the inflation numbers is not a problem for them, if it serves their purpose.

https://www.zerohedge.com/economics/real-story-behind-feds-soft-landing-narrative-0

I just listened to this David Lin interview with a trader. I like getting different points of view on what we could see in the future and this Fellow gives us some different opinions on what he thinks is happening. His take on the market climbing a WALL OF WORRY and Trump now winning in November are probably right. That's why the markets have continued higher.

Later in the interview David asks him about mining stocks and his take is to buy the commodities, not the miners. What I think he doesn't understand is that as the metals continue to move higher the miners will EVENTUALLY join the party. That happens later down the road, as the bull market in gold/silver broaden out.

It just makes a lot more sense to me that with these rare assets we have that our Management would do everything they can do to keep them in house. Keith should be connected enough in this industry to make it work with the right gameplan and his industry chops. This isn't his first rodeo.

I would agree with your point, much of this may hinge on where gold and silver prices are in the next couple of years. I expect them BOTH to be significantly higher.

When the question was asked of Keith about a possible merger/partnership with FM he couldn't say that's the gameplan or they're working on it. All he could say is what he said and that's "it's crossed my mind" and leave it there. He has to get Jerritt Canyon fixed first.

Many of the AI stocks are taking it on the chin today. The Nasdaq is down nearly 500 points as I post and the AI stocks leading the fall down. Is this move a head fake? Who knows, but its really clear to me that its a bubble that in time will deflate. How long that takes is anyone's guess.

I also think this rotation out of AI and tech is moving into the small cap stocks, which the Street perceives will be a growth area IF Trump wins in November. The debt bomb is coming and IMO Trump won't reduce spending or want Powell to keep interest rates elevated if he's our next President. I would expect Trump to INSIST that Powell rapidly drop rates if a recession comes along. Depending on how overboard the Banksters go, we may see inflation come back sooner than later.

I just heard on the biz news that Jamie Dimon is still saying don't drop rates TOO SOON, so that may be his fear too.

Yeah, that answer about "crossing his mind" etc. might just have been a way to keep his FM shareholders calm about any new merger plans since the Jeritt Canyon mine shutdown was probably seen as quite a negative even though I think it will be a great asset for FM long term as well. You do make a strong case about this all being about merging the two companies eventually. I really do believe Keith wants the assets for himself if there is a scenario to develop them within one company or in partnership with FM.

The question is as always in what way it will be financed. These are very big assets and will cost almost a billion dollar each to develop, but this is not going to be that big of a problem if the gold and silver prices keep rising and FM will make several hundred millions of free cash flow in the years ahead. FM is now projected to make 150-200m per year in FCF during 2025 and 2026 and it is very probable that trend will just get stronger from here to say 2030 and onwards. It means they will probably make a billion in FCF in the next 5 years or so. In such a scenario it won't be that hard to get financing for at least one of the projects. I still think it will be Springpole because they already own that silver stream and Keith has said he likes to buy projects that are permitted and ready for construction. It will be an easy sell for FM shareholders once the Jeritt Canyon is again up and running and he can prove he still got the eye for good assets.

It will be very interesting to see how the economy / markets will do under Trump. I would really hope the "AI tech bust" would come before he is elected so it is absolutely clear that it was a bubble under Biden and not in any way Trumps making. I think he will be very pro business and his policies will be wildly inflationary and good for gold. Rates will probably be cut and fiscal stimulus will be directed towards industry/ infrastructure / military spending. The debt will probably explode under Trump too, I don't really care who is in charge. The US faces a structural fiscal problem which it really cannot solve any more. The only way really is to keep inflating the debt.

Trump told Maria Bartaromo several months ago in an interview he wouldn't keep Powell as the Fed Head. I guess he's changed his mind. Not real surprising for Trump. If he could get Jamie Dimon as head of treasury IMO that would be perceived as a big win for him, because of Dimon's status in the banking sector. Dimon would bring much more credibility to that position than what Janet Felon has. No doubt about that.

Some of the other issues mentioned in the article I'm hot and cold with, but there's one thing we know for sure and that's if Trump wins in Nov. this country will be much better off. Oil prices will fall and onerous regulations put on businesses in this country should subside. Nothing wrong with that.

I'm less optimistic about sanctions or tariffs put on other countries will be beneficial to us.

Well, if you believe in what Prof.Hanke has been saying (along with many other pundits) an economic downturn is coming REGARDLESS of Trump winning in November.

Why, because it's all about a falling money supply going forward and a slowing economy. The beginnings of that are already starting to show, so unless after Trump wins and he tells Powell to start dropping rates immediately will we see a flood of money coming back into the System. That's exactly what I would expect to happen. That may stoke inflation back up very quickly after the effects of the rate hikes subside. IMO we in the end of this big move higher in the markets, my guess is we see a sell off come fairly quickly after the election. REGARDLESS OF WHO WINS.

I am truly surprised. I thought he would demand the removal of Powell if he won. That alone is surprising. To hear he is considering Dimon is even more surprising. I guess he wants to line up more money printing and lowering of interest rates and those are two people who would go along.

I can understand the lowering of the corporate tax rate to spur business. The question is will the companies bring production back to the US or would it just make corporations who have manufacturing done outside the US (most companies these days) more short-term money at the overall expense of the country?

The lowering of the corporate tax rate would be good for miners in the US. Couple that with reasonable folks in charge of mining oversight and we could see the miners in the US move higher.

In addition, lowering the corporate rate would help with oil production, lowering the price of oil, which in turn would help the miners move projects forward and improve profits on existing mines.

What do you think of a Powell / Dimon team in staving off a real economic downturn? Knowing how people are, I could see them giving lip service to whatever Trumper wants while behind the scenes betting on a downturn .

Anybody else see this article? More sanctions to other countries should just accelerate the BRICS initiative it would seem. Jamie Dimon as Treasury Secretary and keeping on J. Powell? Hmmmm

https://www.zerohedge.com/markets/trump-reveals-key-pillars-truponomics-low-taxes-sky-high-tariffs-powell-not-fired-treasury

I remember when Keith said "the idea had crossed his mind" about a FM and FMG deal getting done. I believe that was a huge UNDERSTATEMENT on his part and his attempt to most likely deflect the question. IMO a merger/partnership has been the game plan all along. That crap about staying a pure silver play is just fluff as I see it. It's pretty clear to me that Keith wants to diversify into both gold and silver.

Why in the world would you have the insight to acquire these fantastic mining assets just to give it up to an outside entity? Why wouldn't you want to keep it in the family so to speak, IF at all possible. I'm not an FM shareholder, but it makes a lot more sense to me IF I'M KEITH to make both of these companies wealthier. That IMO should be a top priority for him. Why partner or sell it to say Barrick if you don't have to? These assets are finite, why would you consider selling them on the cheap under any circumstances? Hold onto them if at all possible would be my thinking.

Keith's short-term dilemma is with Jerritt Canyon and the issues there, so it would appear he has to get that situation cleaned up before FM shareholders would allow him to deal with us.

If a bigger Player comes in and makes a hostile offer for us, then we'll have to cross that bridge when we get there, but until that happens this makes more sense to me. I won't be voting to sell my shares on the cheap for sure.

The dream scenario for me would of course be that we partner up with First Majestic to develop the assets ourselves. That really is what I have been wishing for all these years and I would probably never sell in that scenario unless the shares get ridiculously overvalued at times during manias. This would mean we get to develop both assets with Keith's long term visions of maybe eventually merging the two companies and form one new giant gold/silver mining company focused on North-America. This scenario would really create generational wealth that I would want to pass on to my kids.

Keith did say in one interview that it has crossed his mind and that he would "love to do it". First Majestic is of course according to their strategy focused on silver assets but they still generate 50% of revenue from gold sales. They did buy Jeritt Canyon (a gold asset) but had to shut it down now temporarily while they develop the asset. I think it is still very much a possibility that we might do a deal with First Majestic on either Springpole or Duparquet. First Majestic already owns the silver stream on Springpole anyways so it would not be that much for FM shareholders to digest I think if it was announced. Having said that, Keith did say in many interviews that for FM to buy an asset it has to either be in production or be permitted for production so that might give us some clues. I think Springpole would therefore be the logical choice here for a JV with FM.

I hope you are right about the shareholder base being in it for the long term, and I certainly won't give up my shares easily after such a long wait. I can so easily visualize where this company will be in the future. The assets are there, we just need time to work the magic.

Keith doing an interview at Rick Rule's show last week. He mentions First Mining Gold.

I think it's safe to say the whole complexion of the situation here can change with a rising gold price. Many pundits I've read are calling for $3K gold in the next year or so, as the Fed has to begin reducing interest rates, coupled with a deflating stock market bubble.

Keith doesn't have a history of partnering or JVing with other people, so that's why I keep thinking he may want to try and hold onto Duparquet and Springpole. Is that a realistic assumption? Maybe not. I think its naive to think our assets aren't actively being looked at by bigger Players to buy and as cheap as our shares are currently they could offer a bid at much lower values than we're actually worth. Having said that IMO I don't see our shareholder base selling out on the cheap. Most of the folks in this Company are like us and have been holding for a long time. We've been holding for a home run here, not a single.

That's why I've said here for a long time now our ace-in-the-hole is probably First Majestic. Dan told me years ago when I spoke to him about our being taken out on the cheap that Keith would intervene and a bidding war for the Company could ensue. With our share price where it is now, that plan should still be very much in play and as the gold price continues to march higher the probability of a hostile takeover should be increasing.

Would the ever-increasing chances of a hostile takeover push Keith to partner or JV with someone? I guess it could if that meant holding onto these great assets for the long haul in much the way you described.

There's a few ways this could all work out, but my hope is that we are still involved and can participate in the coming gold stock mania I feel is coming in the next few years. Valuations for crappy mining companies can go crazy higher and a company with the potential this company has should go parabolic when the mania hits. The wait has been long, I'm looking for a big pay-off for my time spent, even if that means holding a while longer.

P.S. Yes, we have the stake still in Pickel Crow, but don't forget about our Cameron asset. That could be at least a 4-5 million ounce asset itself.

Yes, I'm also definitely in this for the long term. I think Keith will of course do what he perceives to be the best deal for the company. Just based upon what he has said in interviews and webinars it is quite clear he wants these assets developed into mines asap. Obviously he would like the assets to be developed by the company itself, but that might not always be the easiest and most feasible scenario. It will depend upon many factors when the time comes to close a deal on both Springpole and Duparquet. If I had to guess I would think we are going down a JV route of sorts where First Mining will remain with a big project interest (maybe 30-49%) in both mines, hopefully free carried to a decision to mine. Hopefully this would be done with a senior / mid tier producer. I think for long-term investors this would make the most money since we would participate in the upward cycle in gold prices when the mines get operational. It would also turn us into an actual gold mining company with substantial assets on the books. With Duparquet this could be done in a step by step fashion with a partner where we start out smaller and then grow in time. Also remember that we still own a 30% interest in Pickle Crow which is by no means a small project, something like 3m oz. if I remember correctly.

But it is also still a likely scenario that we will get taken out by a major and that is the scenario I am most worried about because it would then be up to the shareholders vote. The problem is that there are a lot of frustrated shareholders who would probably be happy to settle for a fraction of the real value in this company and they would then vote for the take over. I'm sure Keith would be trying his best to tell shareholders not to accept the bid in this case, but if shareholders want to sell then there is nothing we can do. I would certainly vote NO for any bid less than a billion dollars (USD). A billion dollars would still be way undervalued compared to what I think these assets will be worth in the next 5-10 years, but we might have to accept this outcome.

I can't disagree with any of the points you made. Unless something is brewing behind closed doors Keith HAD BEEN making monthly purchases up until recently.

Why did he stop making those 250K monthly purchases? Speculation can run rampant as to why.

Our Springpole asset is significant, but IMO what is most likely drawing BIG attention from other larger Players is Duparquet. Since we acquired that total asset IMO has been a game-changer for this Company and we still have gotten no credit in share price appreciation for it. I agree with You, that we should be valued at least $1 per share right now. In a mining sector bull market where any news is perceived as bullish we should go much higher and we're not close to a gold mining mania yet. That's going to take a higher gold price.

Getting some big JV or partnership news should be the catalyst to significantly move the share price higher, but is that the road Keith wants to travel? I still believe Keith may want to keep these assets for himself and not partner or sell them. The problem there may be fending-off hostile takeovers going forward.

We'll have to wait and see what happens. I'm not selling one share until we see a $2 share price.

Yeah, no insiders have sold any shares either so if a deal is indeed in the making then they are all in a locked period until an announcement is made. Of course, there have been periods before where Keith has not bought any shares in the open market, but usually he is in there at least every other month or so. Keep in mind he has bought almost 2m shares on the open market just during Q1, and he bought 10m shares in the December financing round. Deal negotiations can take a long time and it is possible Keith loaded up on shares during Q4/23-Q1/24 because maybe he knew that they would eventually end up in a period where he cannot buy any more shares. But whatever, this is just pure speculation on my part, lets hope a big deal is soon accounced!

We are now flirting with all time highs with gold and i suspect silver will soon join the party and get a massive spike up in the price to around $35-40 or so by the end of the year.

Springpole is the next big gold asset to get permitted and Duparquet is by the looks of it the next +10m ounce monster deposit ready for further development. And we have both assets in the same company. There is just no way in hell the bigger players won't buy these assets at some point if the gold price keeps rising. I mean if Duparquet is defined as a 10m+ oz. asset it could be another multi billion dollar asset with $2500-3000 gold. I think we are sitting right now at the very least on $2 billion of pure net asset value in the company. This company "should" trade like easily north of a dollar (CAD) in the current development phase.

I'm planning on making one final purchase here soon, but I will wait for the tech stocks to correct big time first because I want to see how the sector reacts to the incoming "AI tech bust".

I didn't think of it, but that's an interesting thought. As You say, if something's brewing behind the scenes unknown to us, then Insiders can't accumulate shares.

Keith's last couple of buys have been toward's the first week of each month. Time will tell I guess on what's happening. The more gold found at Duparquet the bigger the interest in FMG will be with the Big Boys.

I also find the unfortunate passing of Massie's wife troubling. EOM

Just a thought that crossed my mind: Maybe a deal is in the making and Keith (and other insiders) are forbidden from buying more shares because it would be insider trading. Not saying this is the case but certainly could be an explanation for him not buying for a while. No other insiders have bought either. Could possibly be a deal in the making and an upcoming announcement soon. But it is of course possible he just did not buy any for a month or two and will buy maybe 500k shares next time.

I did a search for David Hunter because I hadn't heard from him lately. This Hunter interview with Jay Martin is really insightful.

I highly recommend listening to the whole interview, but the part that I really agree with David on begins at about 33:00 into the video when they begin talking about the "cycle of empire" portion. I really think David is spot on with his views on what's coming.

We'll see how this story plays out, but IMO most of what Hunter is predicting is correct. PM's will be in big demand as the debt becomes unsustainable and future fiat money creation grows out of control.

I predicted the JFK’ing of Trump

This was nothing more than a failed JFK 2.0 attempt. Secret service snipers were staring directly in the direction of the shooter, crowds of people yelled and pointed “shooter! roof!” to the police and nothing was done. I’m no Trump fanatic, despite having voted for him twice, but if the Rothschild owner central banking Reuters media outlets are after you for 7 years 24/7, then they try to put you in jail, and then they try to kill you, you’re DOING SOMETHING RIGHT because they want you OUT.

They tried to do to Trump EXACTLY what they successfully did to Congressman Thomas Massie’s wife last month on June 27th. Interview from last month in mid June that Tucker Carlson gave to Rep. Thomas Massie where Massie for the first ever explicitly dared to reveal that everybody in Congress has an “AIPAC guy” babysitter. 2 weeks later on June 27 (2 weeks ago), his wife died of a “sudden mysterious death” and they won’t disclose how.

These same powers tried to take Trump out yesterday. They failed but they will TRY AGAIN. “Food poisoning,” sudden heart attack, or an outright second attempt via gun. These trillionaire banksters aren’t called banksters for no reason.

I don’t think Trump will make it to November. Kamala is too unpopular, Biden has now been exposed for the brain dead dementia patient us “conspiracy theorists” have been saying he is, and picking Gavin Newsom would be a very weak move. They’re stuck between a rock and a hard place and the path of least resistance is taking Trump out. Either that or they’ll say screw it and rig the election again even if that means making it overtly obvious and suspicious that they cheated because a Biden or Kamala win will look very suspicious.

Check this out. I assume this is the Guy from the conservative side that wants Trudope's job.

This is a video from this past week with him addressing First Nations. Looks like he's kissing some ass to get their votes. Interesting.

I would assume these people would be a much better alternative for FMG moving forward. He actually mentions he wants to reduce the bureaucracy from government to get mining projects done. Wonderful.
Elect him NOW.

Depending on how fast they can take over this may help our mining endeavors move ahead at a much faster pace.

Very insightful commentary from Nomi Prins this week. This Lady knows her stuff and she's calling for $3K gold very soon. Good listen.

It's been over a month since Keith added to his holdings, wonder if he's waiting for the share price to fall?

I'd like to see him add every month, regardless of share price.

https://www.insidertracking.com/node/7?menu_tickersearch=FF*CA+%7C%7C+First+Mining+Gold

The money won't stop being spent, it will just be diverted to another area to be spent. That's the way big government works. IMO Trump is in that camp. I sse him as a big spender in the places he wants to spend in. He's not looking for any austerity.

The politicians will ONLY stop spending more money when they're forced to do so. People are all the same, you do what you can get away with until you can't any more or until the wheels come off. That's why people are overleveraged with their credit cards and have no savings. Like the government,
they're living far above their means.

This has been going on for so long now everyone thinks it won't stop. They think the government has their back and if they're broke or lose their job, the government will take care of it. What happens IF the government is broke and can't come to the rescue? The student loan forgiveness crap is a good case in point, that debt doesn't just vanish, the Taxpayer is paying the bill.

We've talked about that outcome here too. I'll be dependent on myself as my as possible to take measures to take care of ME and my family. I want this to end well for everyone, but I'm not real optimistic it will. The turning point is not that far away. The chickens are coming home to roost.

Sadly, I think you are right. I also feel that whoever gets in there will just continue with the out of control spending. Perhaps as you stated there might be attempts to rein in the government spending in some areas. That needs to occur. Will it? We'll see.

I don't think Trumper's ego could handle austerity because short-term it would create problems and he would get blamed. So just like every other politician he will continue to kick the can down the road instead of having honest dialogue with the people - explaining that we need to tighten our belts now and deal with some adversity instead of doing it later and dealing with a lot more adversity.

In addition, many people in America need to stop their level of consumerism. If you have debt, stop spending on things that are not needed to live. Get the debt down. Stop being a debt slave to the extent that one can. It amazes me at how many people I see on TV, on the internet and hear on podcasts that have debt problems that need someone's help to figure out how to cut their debt. The "helper" comes in and basically tells them to stop eating out, stop buying clothes, go a family plan where possible on bills, pay off their cars, get cars that are more fuel efficient, rein in vacations and go to lower-price destinations......all common sense stuff that they should not need help figuring out.

How far will the world allow US debt to go before they stop buying our Treasuries? 40 trillion? 60 trillion? 100 trillion?

Jamie Dimon talks about rates being higher for longer - can the US afford the interest on the debt as it is continually baked back into the ever-growing cake of underlying debt?

If Trump wins the election, he wouldn't take office until late Jan. 2025. Trump has always been for easy money and lower rates. IMO the rate cut cycle by the Banksters should have already started by that time, so depending on whether or not the economy has started to tank should determine how many cuts have been made already. My guess is Trump will tell Powell to accelerate the rate cut process after he takes office. That could be very inflationary later if done in haste.

As I recall in his last term, Trump bitched about the Fed not reducing rates fast enough when he was in office and raised Hell for them not doing so. We know Trump is all about good optics and being able to brag about how good everything is, so loose money is his preference.

Will Trump reduce spending? No, not enough IMO. The money being spent will just shift from wasteful GND policies to areas like the military. IMO Trump is not a fiscal conservative and will continue the spending, but if he can actually REDUCE the government machine itself that might cut some costs. That would be a big step in the right direction, let's see if it can happen. That, in the end, may be what makes or breaks this country.

I'm skeptical that anything short of some sort of debt bubble bursting is going to force the politicians to spend less. No matter who's in office. That's been the root problem in this country for many years now.
We have the printing press, so spend unlimited amounts of money until it all blows up. MMT doesn't work.

Your analysis makes total sense. In addition, I believe Trumper has indicated Jay is gone if he gets in, so Powell can cut without worrying about the long-term ramifications. Meanwhile, Jay can inform his buddies on Wall Street of the decision so they can front-run related trades and Jay will then exit the Fed and walk into one of their firms, where his salary will have already been pre-paid from the trades the firms made. This is all mere speculation, of course.

A cut in rates also allows Bro Joe (or his replacement) to continue to assert his economic policies are working.

Do you think Trumper or any other candidate will cut spending when they start their term in office?

Well, if Dimon is right and he probably is, that should keep the Fed on hold, but J.Powell is in denial and he's obviously scared to NOT begin dropping interest rates

This has been the ongoing question to be answered for a long time now. When to start dropping rates without rekindling higher inflation? IMO we're not there yet, but it would seem Powell is getting ansy about not dropping rates sooner than later. He signaled that earlier this week, so my guess is they'll do what it takes to make it look like inflation is falling to levels that give them the green light to start cutting. The talk this week has been they'll cut in September, but who knows.

We also know the Fed is always behind the curve on where the economy really is and that because of all the fiscal spending Dementia Joe has been doing that is very inflationary too. That's what has Powell screwed IMO.

At the end of the day I think the Banksters are less concerned about higher inflation and maybe more concerned about a hard economic landing. The problem is they may get BOTH. The higher interest rates stay the more likely we see some sort of Black Swan event showing up forcing these Fools to drop rates very quickly instead of slowly, which is what they'd prefer.

Nicely said, Seablue. We don't know how they're going to restructure SS or Medicare, but its going to HAVE to be done.

I totally agree that people that paid into SS should get the cut they deserve from it, whether they have low or high incomes. Robbing from the rich to pay for the poor isn't the American way. I'm not sure if that way is enough to save the System anyway. If they are forced to reduce payouts or not give cost of living increases that will bring into play a huge outcry from the people. As we all know most folks in this country have NO savings and attempting to live off of SS is not realistic now, much less if payouts are cut.

You make an excellent point about what will happen because of all the illegal aliens. That will only SHORTEN the time until we hit the wall with these government programs. It's difficult for me to see how this won't turn into a massive trainwreck at some point.

Implanting, what do you think about Dimon's commentary?
https://www.cnbc.com/2024/07/12/jpmorgans-jamie-dimon-warns-inflation-and-interest-rates-may-stay-higher.html

I will most likely wait until 65 or 67. I am roughly 10 years out. Depending on my health and how I feel at that time I may continue working. Once I retire I plan on continuing to "work", hopefully in something like tutoring, coaching, etc. I will do the tutoring for free if parents do not have a lot of income. Coaching would be part-time, most likely in either football and/or track.

I really hope social security payments don't go to a staggered payout system based on assets and/or income - if people paid into it based on representations by the govt. they should receive what they were told they would get. Structure it however you want for folks far in the future and let them know you're restructuring it so they can prepare. That would be the fairest way to do things.

Of course, the illegal aliens will have a huge impact on social security and Medicare. They will add an extra burden on those programs as they sign up for and receive them despite never having contributed to them.

I started drawing my SS at 62. I won't get into the reasons for doing it, because I would've waited longer to begin if I could have. I would not advise anyone not to begin drawing as soon as the benefits are eligible to them also.

I don't see how they're going to make it work unless they rob Peter to pay Paul and most likely lower the pay outs. I think they'll either take benefits away from "rich" individuals that may have paid into SS like everyone else has and give those benefits to lower income individuals. That in itself may not be enough to fix the problems.

The SS problem and medicare are going to be a very big problem in the next 5-10 year time frame. They need to address it NOW, not when it becomes too difficult to fix down the road. Covid killed a lot of old people when it came, but this Black Swan will be much worse and self-inflicted.

Yes, you have to recognize that gold is money or at least that its a hedge against fiat debasement. It's the insurance policy for the country if what we're seeing happening now HAPPENS.

Running a country isn't much different than running your personal life, it can be done right or it can be done wrong. I can't understand how a country like Canada, so rich in natural resources and GOLD choose not to hold it in reserve. Makes no sense to me.

It all depends on whether I pull at 62, 65 or 67. I am close but not too close. If it goes insolvent in 2032 I would be in a real iffy situation. Hopefully the geniuses in DC figure out a way to extend its solvency, but I don't have much faith in them because they make bad decision after bad decision.

Did you start getting social security as soon as you were eligible or did you wait? Waiting those extra years really adds a significant amount to the monthly payouts.

I guess the old adage applies - you can lead the horse to water but can't make it drink.

Another subject I know You find near and dear to your heart is social security. I don't know when you're eligible to begin drawing, but I hope it's within the next ten years or so. I don't wish old age on anyone, but in this case the sooner the better.

This is what I've been referring to in regard to the severe measures that these over-leveraged countries have in store for themselves and their people. Medicare will most likely be in the same boat. People won't be able to live off these government hand-outs and we'll most likely see MUCH higher inflation when the payouts become smaller. The politicians still haven't addressed this problem yet and if they wait around and let it get worse, IT WILL.

I'm sure Canada is in the same boat. A major cluster fuck on the horizon. LOL

https://finance.yahoo.com/news/social-security-is-headed-down-an-unsustainable-path-strategist-171315865.html

This is the reason gold and silver are moving big today. Higher expectations for a rate cut coming sooner than later.

https://www.zerohedge.com/markets/wall-street-reacts-todays-dovish-cpi-shock-its-time-cut

IMO that would depend on how desperate they are.

What measures might they have to take if they wait too long to address any possible insolvency issues?
Nationalization could be avoidable IF they address their problems and change the path they're on currently. The big question to be answered IS will they do what it takes to avoid the trainwreck? Does anyone in government foresee the problems they're facing now? IMO they should have already been stockpiling gold reserves, but they haven't.

Again, we know the government isn't going to go under, so they'll do what has to be done to stay in power and stay solvent. WHATEVER THAT TAKES.

Seablue, you bring up some good points. For Those with eyes to see, we know a large part of commodity-rich countries are moving away from the dollar. China, Russia, and India are leading the way along with other significant players that understand the U.S. is a waning power. They understand that if they get a new form of payment backed by hard assets and not promises, that it can eventually knock the dollar out as the reserve currency. That's a big deal for them.

These countries know that REAL assets are worth more than a scrap of paper with a promise of payment at SOME FUTURE TIME. The West and those holding mostly dollars see this coming too. The trickle is growing ever larger as time passes on and at some point we may see a flood out of the dollar, as faith in it is lost.

I think Canada may be currently in worse shape financially, than is the U.S. and they hold NO gold reserves to back the loonie. Not good. Will They head off some sort of future financial crisis? Maybe, but I wouldn't bet the farm on it. My guess is that Canada will have to move to austerity measures much like what will come in the U.S. The Welfare State will have to be greatly downsized and people will suffer for it. The free ride for many will come to a slam on your brakes stop and governments will have to tighten their belts to stay solvent.

We know governments will do what they have to do to stay alive, ANYTHING, so nationalizing the mining industry is not off the table, even in Canada, but I hope it doesn't happen and will be avoided. I hope we can see the move higher in our FMG shares before such an event takes place and I wouldn't hesitate to sell out before it comes because it would destroy mining in Canada IMO.

As far as what Canada and the gold miners could do to rebuild Canada's gold reserves? The first thing they need to do is understand they NEED some gold reserves. That would be a great first step.

Do you really think they would nationalize ALL commodities? I can't see that happening. I think Canadians would tell whoever is prime minister to stuff it at that point. However, stranger things have happened and if an authoritarian government clamps down and/or a real dictator assumes power all bets are off.

I did not read your post until after I replied to Implanting's post. Totally agree with everything you said. Makes a lot of sense. Problem is governments don't always do things that make sense. I would really like to see the scenarios you laid out come to pass because they are reasonable solutions to the problem.

Regarding third world countries, I would add Guatemala to the list. I remember a while ago reading about how the government wanted some insane percentage of ownership in mines (can't remember if it was 50% - but it was something like that). Also, the miners had problems with locals protesting the mines. Then there are some counties in South America that have either nationalized or threatened to nationalize. So, as you said, Canadian assets have an enhanced attractiveness in this atmosphere.

I did not see it. Thanks for posting it. You can really see the move away from the dollar when looking at trade between those countries - more and more they are using their own currencies and/or commodities like gold and oil to conduct trade. Meanwhile, the US continues to print fiat like drunken fools and lately no one has been talking about this. Granted, there are more important issues to discuss, but the fiat printing ties into all of those issues.

I would hope someone sensible at the head of a sensible coalition is in charge of Canada when the time comes for Canada to start building up their gold reserves. Hopefully they can work out an arrangement with Canadian gold miners to supply gold to the Canadian government either for payment or some other financial benefit (i.e. - tax offsets). It would make more business sense to do this because everyone gets what they need. Maybe not exactly what they want, but it allows things to progress forward. Good luck with nationalization. Yeah, sure, the mines would still produce but for how long? The drivers of the industry would switch to other metals and/or endeavors.

The US is potentially in the same boat as Canada. With no audit of our gold reserves since the 1950s, do you really think it is all there? If it is all there, do you really think there are not multiple claims upon each ounce? Imagine the reaction if the curtain is drawn back and the emperor is naked - the US has no gold either. You could see the government in that instance stick the miners with some nonsense requiring sales to the government to rebuild the US gold reserves. How would that work out? After seeing how they have "managed" the social security trust fund - on the fast track to insolvency - the federal debt - print Johnny, print! - as well as dozens of other budgetary line items I would venture the guess that government involvement in the gold industry would fail miserably.

What do you see as the best arrangement between the miners and the Canadian government to rebuild Canada's gold reserves?

Firstly, I wouldn't put anything past for what Trudeau would do in Canada. IMO if they finally get rid of him and his regime it will be a big positive for Canada overall. We know the mining sector in Canada is and has thrived under a capitalist system since its inception and that's why to this point it's one of the best jurisdictional areas in the world. That's not the problem for them as I see it.

Canada is too much like the U.S., they depend too heavily on their fiat money system to prop up their governments. As was stated in the article I posted that may be an issue moving forward for ALL these Western countries that think their fiat is what the rest of the world will continue to trade with. I believe we're seeing now a definite shift AWAY from these western fiat currencies and into other alternatives that will be backed by gold, silver, and other commodities. As was stated in the article there may be a point in time where your fiat money WON'T BUY hard assets anymore. You may need to hold physical gold to trade for certain, hard to get, items. The fiat money narrative is finally being seen for what it really is....a ponzi scheme. The balance of power is also shifting from the west to the east, which we're seeing in real time right now, so western fiat money is LESS attractive moving forward IMO.

Even if Trudeau is gone at some point, the problem for Canada may revolve more around insolvency and lack of faith in the fiat Canadian dollar, than who's running the country. The U.S. claims they have a lot of gold reserves, but Canada has nothing and IMO that could be a problem for them down the road.

How this plays out over the next 5-10 years is pure speculation, but we know some sort of reset is coming and these western societies that depend on their fiat money to carry the day are going to have problems navigating these changes going forward. Printing fiat isn't going to be sufficient. That's also I think why we're going to see this next big move higher come in the PM's. People are going to wake up to the fact that fiat dollars are not what everyone wants to hold. They want real, tangible assets.

I agree in large part with what you said, but IMO Canada may not have a choice in some form of nationalization of maybe ALL of the commodites there if the country is insolvent at some point in time. The same may hold true for the U.S.. I'm skeptical they actually hold the gold reserves they claim to have.

Just my two cents regarding nationalization. I think this is a very remote risk in Canada given the already rapidly shifting political sentiment for Trudeau's government. The mining sector goes back hundreds of years and is still a meaningful contributor to GDP / taxes / jobs / etc. It would cause a massive uproar / protests / strikes if that were to happen so it just does not make any political sense to do it and it would be a very inefficient way to solve the problem. The governments of Ontario and Quebec would also definitely challenge any form of nationalization initiative seeing over 70% of the Gold in Canada is produced in those two regions. It would just be a total mess.

If the government would actually go down that route to acquire gold reserves it would be much more prudent for them to keep the sector private and then just demand 100% of the gold to be sold to the government at a specific price, maybe at a slight discount or something similar. That price would more or less have to equal the current market price for gold because otherwise this would bankrupt the entire industry in time, again undermining the entire thing. It's always possible the governments will f things up, but I still consider this a very low probability event.

Or the government could just buy gold outright or make lease arrangements with other countries who do own large gold reserves. Canada produces something like 200 tons of gold per year so it would take many years for the government just to acquire any decent amount of reserves in this scenario, it would just be such a stupid idea.

Outright confiscating mining assets is much more of a risk in third world countries and it always ends up in disaster. We saw what just happened in Panama with the large copper mine and that makes it look very bad for foreign investment. I actually think the nationalization that took place in Panama only makes the assets in Canada / US make look even more attractive. The bigger gold miners need to acquire assets and because its a billion dollar multi decade long investment the question of jurisdiction has never been more important than now. We are sitting on two of the largest undeveloped gold assets in Canada, people still don't understand how rare these assets actually are. It will be recognized soon enough by the majority and a rising gold price.

Canada is still after all a very good jurisdiction, especially Ontario and Quebec where our assets are located are some of the most sought after mining districts on the planet.

Anybody see this article? After I read this article what concerns me even more is what will Canada do to acquire/accumulate more gold? Being that they have none now.

https://www.zerohedge.com/news/2024-07-09/brics-will-use-gold-standard

Congressman Thomas Massie’s Wife Dies

Interview from last month in mid June Tucker Carlson gave to Rep. Thomas Massie where Massie spills the beans that everybody in Congress has an “AIPAC guy” babysitter


2 weeks later on June 27 (2 weeks ago), his wife dies a “sudden mysterious death” and they won’t disclose how