Gold is Taking a Beating Today!

Log in or Sign up to hide this ad.

I'd go back to where you metal Detected those and look around more.
If it wasn't 115 in the shade this time of year I might have a shot at digging up a gram.

 

I did business with the major retailers in the US, Canada, Mexico, and Europe. We were mandated to have regular inspection of the Chinese Factories (and other countries) on a quarterly basis. Additionally, those major retailers would also have their snap inspections. If consumers got any wind that Retailers were knowingly using prison or child labor, they would be decimated.

Also, factories in China could only produce for Export markets OR their Domestic market. They could not provide to both. For Export, They were under close government scrutiny to account for EVERY product that they produced. If non-compliance by 1%, they would be shut down. That includes scrap (hence the 1%).

I believe most the stories about child labor was from years ago when China was 3rd World. I do understand that some of the other 3rd World countries have been using and were caught using child labor. (And, yes, in the 90’s, I did see child labor in one of the factories we purchased from. Immediately shut down our relationship and reported it to their Gov’t)

Americans love to attack China for cheap product, poor manufacturing, etc etc. I will say that many of the factories that I visited were clean, well run, and many were more modern, and much better than I had seen in the Americas, Europe, and other parts of Asia. I have visited approximately 400-500 factories globally (including US factories.) I ran operations in several locations in the US, as well as operations in the United Kingdom when I lived there.

* I do not understand the comment about using labor from “women”. I employed major percentages of our workforce that were women in the US, UK, and our sister divisions in several countries that we manufactured in. They are part of the workforce. Why would women labor be a problem?

 

Very frustrating, as the PM,S cant make up there mind one way or another

 

I doubt if they will until this Fall.

 

You would think that with all the things going on in the world PM,S would be doing allot better now, go figure..

 

Perhaps, everyone has to move out of the reality tv news cycle that the gov’t lives in. It is summertime. PMs usually their lowest for the year. Central Banks are buying. I am not confident the West is in control of this market. I personally feel that a floor is being established, with a potential down to 3600 or so. Even if is stays at 4k, It will be a steal then, and folks will realize fiat “paper” and derivatives will be valueless compared to tangible assets. (I never counted my home as an asset on my balance sheet… you ALWAYS have to live in some kind of box.)

 

I have always been told just about by everybody that when people feel un easy
they turn to GOLD, I would think the current situation applies..