Modern Day Pandora's Box ?
Did the recent Greek crisis open up a gateway to a global Pandora's Box type event?
I know most of us watched the news on the Greek crisis and thought the population base vs the rest of the globe should equal little or significance to global events especially economics. This was a generalization that was echoed by many in the financial sector until the pieces of the puzzle became more clear.
This became an event that ties the world together. It has peeled back layers of somewhat insignificant loans and investments that have linked the success and failure of our fragile economy to one or two trigger events that have now become clear. The European Union was quick to point out the domino effect on the rest of Europe and some countries felt they were immune to whatever spin may come out of bail outs and collapse half way around the world. The truth has proven that you don't need a direct tie to a global catastrophe to feel it's effects.
I have never been a doom & gloom type investor. I tend to see economic spin as a way to predict market fluctuations and then I act accordingly depending on what sectors I feel will be affected by the fall out. This time around i have the feeling we are in the midst of an all out gold hoarding event. Gold can remain a constant yet expanding investment while everything else suffers and the hands of a global melt down. Even going all cash can hurt you if your country is downgraded by the rest of the world. Is the American dollar even safe right now?
The US economy is at the forefront of the news right now and this has investors once again running for cover. They didn't need another reason to be scared but the US Government themselves have this blame squarely on their own shoulders for not seeing the warning signs and acting appropriately. When an individual hits a credit crunch and can't pay their bills their first response isn't to call the bank and ask for a higher credit limit and more time to pay. There is only so much money to go around and as individuals we have to trim the fat and cut costs while trying to pay down principal when we know the interest is killing us.
So why can't governments practice what they preach to tax payers? I think the rich can go without some of those tax credits they receive even if its only a "temporary" measure. As well I look at what Canadians pay in taxes vs what Americans pay and the problem is staring you right in the face. I don't like the high taxes in Canada but the higher level of emergency services and health care alone provide a compelling argument for change in the US. Buck up now or have a total collapse later. It's quite simple to most who are waiting for the people in power to make the big decisions that effect so many.
Let us cast aside our own agendas and feelings and put the common tax payers interests at the forefront of this debate and things will get done. The big industrial machine has been in control too long in the US and the good of billionaires does not outweigh the good of the common man who has to pay for these bad decisions. Not to mention the legacy of bad money management we are leaving the future generations to deal with. 100 years from now people will look back and be amazed it took so long for something to change.
Today, the phrase "to open Pandora's box" means to perform an action that may seem small or innocuous, but that turns out to have severe and far-reaching consequences.
These 2 gold companies are high on my watch list for 2013.
Kesselrun Resources Ltd. is a newly formed Thunder Bay, Ontario-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun's management team possesses strong geological and exploration experience -- with particular expertise in Northwest Ontario -- as well as significant capital markets and business know-how.
Our flagship Bluffpoint Project consists consists of 103 mining claims covering 22,576 hectares in Northwest Ontario's Wabigoon Subprovince, host to several recent gold discoveries such as Osisko's (TSX:OSK) Hammond Reef Project and Rainy River’s (TSX:RR) Rainy River Project. Accessible year round by a network of well-maintained logging roads, Bluffpoint offers low cost exploration in an emerging prolific gold district.
Mahdia Gold Corp
Mahdia Gold gets its name from a popular resource rich mining town located in central Guyana. Historically the central Guyanese region was made popular by the Omai gold mine. This mine produced approximately 4.000.000 ounces of gold from two open pits. Having identified the potential of this region, Mahdia Gold Corp. has acquired three compelling gold bearing concessions, namely, Omai, Tiger River and White Creek. The company's vision is to be an aggregator of world class gold properties in the country of Guyana. This vision includes maximizing shareholder value and Mahdia Gold Corp. being the premier destination for investors looking to invest in the precious commodity known as gold.http://www.mahdiagold.com/