Monday, March 16, 2015
March 2015: How Soon Will Gold/Silver Miners & Oil Producers Go Bust?
Jason Burack of Wall St for Main St did a 10+ minute video talking about how a good % of primary gold and silver miners will start going bankrupt in less than 12 months. The same thing goes for oil producers if oil stays at these levels or goes lower because miners and oil producers have used too much debt to go into production. Jason talks about why miners cannot produce silver for $5/oz anymore like they could 10-12 years ago. Similar rules apply for gold and oil. All the low hanging fruit has been plucked. More supply has been made available to replace used up supply, but new technology has not drastically lowered the production costs for the new supply like economics textbooks predicted.
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