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Monday, November 12, 2012

Minesite Newsletter 12th November 2012

Untitled Document
Minesite.com Informed comment and independent mining news
Minesite Weekly Roundup 5th - 12th November 2012

Dear Minesite subscriber,

Weekly Review

So Barack Obama won, gold went up and stock markets went down. So far so good. It was a mixed night then for Glenn Beck, the noted radio and television pundit, who recently parted ways with Fox for being too right wing (yes, too right wing for Fox).

Mr Beck is also a heavy promoter of gold, and as such may now be better off under Obama than he would have been under Romney, given the widely accepted view that there will be more monetary easing than would have been likely under a Romney administration.

To underline that point silver, copper and iron ore were also immediately better off following the election result.

Or to put it another way, after four more years of Obama both the markets and Glenn Beck agree that the US dollar will be worth less.

But then again, Mr Obama has a clear mandate to make it so, having won a total of 332 seats in the electoral college against Mr Romney's 202.

Mr Beck may argue that Obama's mandate is less clear when it comes to the popular vote, which came in at a less conclusive 50:49 in Mr Obama's favour. But as SP Angel, a broker here in the UK points out, winning an election as incumbent in a time of financial crisis is no mean achievement.

The last US President to do that was FDR, and he ended up being so successful that they changed the legislation after he died to limit the amount of times a President could be re-elected. Obama isn't there yet, but if the economy picks up during his second term, as it might, we could well be in for a lengthy Democratic period in control of the White House.

On balance, that will be good for gold. And bad for the blood pressure of right wing talk show hosts. Unless they own gold too.

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November 08, 2012 - London Mining Plc Q3 2012 IMS AND PRODUCTION REPORT
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November 07, 2012 - Volta Resources Inc. Volta files technical report on Kiaka...
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November 05, 2012 - SolGold Plc Change of Broker 
November 05, 2012 - Richland Resources Ltd Q3 Update
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November 05, 2012 - Altona Energy Plc Arckaringa Project - Update
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November 05, 2012 - Central Asia Metals Plc Notification of Major Interest in Shares 
November 05, 2012 - Great Panther Silver Limited Great Panther Silver Announces 2012 Third...

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