Five Interesting Things I Learned at the International Precious Metals Conference Last Week

Last week I attended a conference in Orlando for the International Precious Metals Institute.  I must admit, Orlando in June was daunting but upon arrival my opinion quickly changed.  This industry is truly incredible.  I learned about Precious metals investments, futures, forwards, and mining specifics. Since I am certainly not proficient enough to share that type of material with you, I figure I will share a few general things I think we will all find interesting.

  1. Gold Prices are based on full faith in gold.  Not “Full faith and credit”. No credit. Just faith.
  2. US Manufacturing has actually increased since 1987 but fewer employees are needed because of automation.  So yes, America does make things- actually more than ever.
  3. ¾ of the US gold imports are from South America.

    A collection of gold and silver coins and bullion.
  4. The value of mining imports are more profitable than cocaine or heroin imports combined.
  5. I learned about the legal term “willful blindness”  and how if a company as a whole is convicted of importing illegal materials, an individual can also be personally charged and fined.

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