Dear Friend,
On January 30, 1934, Franklin Roosevelt signed one law and repriced gold from $20.67 to $35 an ounce.
Overnight. Not by markets. By decree.
Every paper dollar in America lost 41% of its gold value while the country slept.
Savers paid for it. The Treasury pocketed a $2.81 billion windfall created by changing a number.
Now look at the investors who owned gold's source.
While the Dow collapsed 73%, Homestake Mining rose 474%.
$10,000 in the Dow at the 1929 peak: about $3,600 by 1935.
$10,000 in Homestake: about $62,000.
Same six years, same Depression. One group wiped out, the other collecting the fattest dividends on the New York Stock Exchange.
The difference was standing on the right side of the rewrite.
Washington ran the play again in the 1970s. Gold went $35 to $850. Top junior miners went up 23-fold.
The third rewrite is underway now, and one tiny American miner sits at the center of it.
See how to stand on the right side of this one >>
"The Buck Stops Here,"
Kelly Maguire
Behind the Markets