McEwen’s answer to the question in our headline is a question of his own: “Is anything cheaper today than it was yesterday?” (1:22). Inflation? Still here. Debt? Still growing. “All the drivers of the precious metals are in place. Excessive monetary expansion, excessive debt loads, governments that seem intent on debasing the currencies. It’s almost criminal what they’re doing” (3:10).
The founder of Goldcorp isn’t hedging the conclusion either: “I’d say we’re heading higher, and this is an opportunity to build a position” (2:04). Two stats from the interview worth stapling to the fridge: gold production only grows about 1% a year while inflation runs faster (2:04), and metals today draw roughly 2% of global equity capital versus 10 to 11% in the 1950s (15:57). And the anecdote of the episode: Tether, a CRYPTO company, told him in his own office they’re buying two tonnes of physical gold A MONTH (3:53).
So did you sell too early? McEwen’s case says the cycle is starting, not ending. His call, his record. This interview was published by MINING; embedded here with attribution, SilverTrade didn’t conduct it.
Rob McEwen sees a NEW CYCLE starting in the metals:
