“A gold standard will not cure every social ill in the world, nor will it stop all senseless wars. Nothing will. However, by now it should be clear to everyone that the current fiat system is good only for bankers, brokers, politicians, war mongers, and the already wealthy. Everyone else loses as inflation eventually eats away at what’s left of the rapidly shrinking ‘middle class’.”
Those are the words of Michael “Mish” Shedlock, author of Mish’s Global Economic Trend Analysis, who recently posted a video from Dominic Frisby entitled Gold: Independent Money.
In it, Mr. Frisby discusses how fiat currency systems produce a host of problems – from an endless sea of wars and debt, to social inequality, to economic bubbles, to rampant consumerism, to environmental rape.
As a result, Mish went on to say that “All fiat currencies including the US dollar are doomed. The only debate is the path it takes to get there.”
San Gold Posts Record Gold Production
Gold production in the second quarter of 2011 benefited from approximately 80% of the milled tonnage being sourced from the generally lower cost and higher grade Hinge and 007 mines. San Gold noted that the Hinge and 007 mines are expected to continue to be the primary source of ore at the Company's Rice Lake Mill for the foreseeable future. Full San Gold Press Release.
