Ann: Apollo Drilling Following Silver Intersection, page-629

Hi UFX, What is your thoughts on the recent drilling at Uno Morgans? I agree with you that many on HC who invest in gold stocks are expecting an imminent ‘mad max’ scenario where fiat currencies become worthless and gold, silver reach infinity. Got just a feeling though, that it will take roughly a year before the global economies start feeling the full effects of these rate rises as it takes a while to filter through the economy. So the full effects are yet to be felt and therefore as you pointed out things still seem OK. I believe that the US FED this month is going to increase quantitative tightening from 45 billion to 90 billion monthly. Things could look a little different this time next year with global economic growth already in decline. I suspect corporate profits will fall as liquidity dries up and corporations are forced to pay higher rates on debt which means the boarder market may decline. I also believe that as corporate profits and global growth declines due to higher rates unemployment will rise. Unemployment is at the lowest rate I have ever seen. An unnatural rate due to stimulus. This means that it will have to first rise above the natural rate and then go down again to the natural rate. So a recession I think may still come. And with Biden’s recently announced 740 billion stimulus package inflation could indeed remain sticky. Overall this will/should be positive for Gold and silver over the next few years. Just a few thoughts to help pass time until we get drilling results.