Kitco News, Released on 10/25/20

0:00 – Central banks issuing digital currencies
3:47 – Threat to gold?
4:27 – Gold confiscation

At a panel hosed by the International Monetary Fund earlier this week, Federal Reserve Chair Jerome Powell said that 80% of central banks around the world are exploring the idea of issuing central bank digital currency (CBDC), although the U.S. Fed has not made a decision to follow suit at this time.

Powell’s statement echoes a research report released by the Bank for International Settlements (BIS) in January which stated that currently 80% of central banks are engaged in developing in CBDC, up from 70% last year.

David Erfle is a self-taught mining sector investor. He stumbled upon the mining space in 2003 as he was looking to invest into a growing sector of the market. After researching the gains made from the 2001 bottom in the tiny gold and silver complex, he became fascinated with this niche market. So much so that in 2005 he decided to sell his home and invest the entire proceeds from the sale into junior mining companies. When his account had tripled by September, 2007, he decided to quit his job as the Telecommunications Equipment Buyer at UCLA and make investing in this sector his full-time job. David founded the Junior Miner Junky subscription-based newsletter in April, 2017 and writes a weekly column for precious metals news service Kitco.com.

  confiscation, David Erfle, gold