How much a single American consume in a lifetime?

chimpanchu · Jan 14, 2011

Here is an except from Greg Mccoach's Mining Speculator Jan 2011 issue:

Quote of the Day: "The first lesson of economics is that we live in a world of scarcity. There is never enough of anything to satisfy all those who want it. The first lesson of politics is to ignore the first lesson of economics." -- Thomas Sowell

As the quote goes, there is never enough of anything to satisfy all those who want it. The power seeking politicians who need your vote will promise anything to anybody thus ignoring the basic laws of economics. They prey on the unsuspecting, nave voters who believe the lies from politicians that governments can provide everything to everybody. Unfortunately this is pure fantasy, especially since government has proven over and over again they can't effectively manage anything.

Every American Born Will Need during His or Her Lifetime...
1,390 pounds of copper
573,056 pounds of coal
4,864 pounds of aluminum
32,810 pounds of iron ore
849 pounds of lead
772 pounds of zinc
21,848 pounds of phosphate rock
81,518 gallons of gasoline
5.78 million cubic feet of natural gas
1.55 million pounds of stone, sand, and gravel
48,096 pounds of other minerals, and metals
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This is a country where 5% of world population consume 25% of Earth's resources.

Richard Russell explained this debt dilemma recently in one of his writings when he said the following:

"The bond vigilantes are sophisticated and absolutely ruthless. They see the big picture, and the immediate big picture -- is rising rates. As a result, the vigilantes have been selling their Treasuries, and to Ben Bernanke's consternation (let's call it his horror), as the vigilantes dump their Treasuries, rates are rising. As rates rise, mortgage rates rise, and the specter of a second "thud" in housing comes into view."
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The mainstream media keeps referring to gold as a bubble, but do some research on your own and ask people you don't know if they own any gold or silver or have participated in the secular gold bull market of the last eleven years. It will shock you some of the responses you get and how utterly out of touch most people are regarding the single best investment class of the last decade. Most people have no idea what is going on.

Bubbles occur when most of the public comes in to frantically buy a certain sector. This is definitely not the case for gold and silver. But when they do come, as they absolutely will, watch how much money we are going to make by owning the physical precious metals and their associated mining stocks.
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And here's Greg Mccoach's prediction for 2011:

So here is my prediction for the year on where prices will be during 2011. Gold will start out slow in the beginning of the year but gain momentum as the problems with debt become more pronounced and the problems from the derivative situation again show their ugly head. Our precious metals, along with all other markets, are going to be extremely volatile, but gold and silver will continue to push through any selloffs and make new highs. I expect gold to reach for $1,700 an ounce if things don't fall apart and the world continues on its merry way without major problems unfolding. When the crap hits the fan however, there is no limit I see on how high gold prices can go. It will simply be an equation of how much fiat money is chasing such a small amount of physical gold. Will that happen this year? I cannot answer that question. I wish I could tell you, but I can't.

As for silver, even if the world avoids the meltdown scenario for this year, silver is headed over $55 an ounce and will cross its old nominal high made back in 1980. If things go south in a major way during 2011, silver will grow wings and be priced in the hundreds of dollars an ounce. Either way it's going to be a great year for silver.

I also think palladium will be a big performer in 2011 and push over the $1,000 level making it a better investment than gold.

Our junior mining share... (sorry for paid subscribers only )

When the general public comes into our market with the buying frenzy of the internet stock days, then you will know it's time to sell and take all of our profits. I believe that moment is still quite a ways off.
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How much a single American consume in a lifetime?

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