McEwen and Turk Talk Gold

from Northern Miner

The Northern Miner recently invited James Turk, the London-based gold analyst and founder of GoldMoney, and mining legend Rob McEwen of McEwen Mining (TSX: MUX; NYSE: MUX), to discuss their views on a number of issues ranging from the value of money, gold and gold mining stocks to the emergence of crypto-currencies.

McEwen: The price of real estate in London is incredible. Recently a 7,000-square-foot penthouse sold for US$220 million. That really shows how cheap money has become.
Turk: That’s it precisely. Money is a function of supply and demand and as people understand that money is losing purchasing power, they start moving out of money and into things. The super rich get it. They understand they’d rather have a $100 million Andy Warhol painting than have the money on deposit in a bank. You’re seeing higher prices for paintings, real estate, stocks. The stock market is not going up because of good economic prospects, but because of central bank money printing. And it’s only a matter of time before more money starts pouring into gold and silver.
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