Why Gold, Why Now?
"Enormous dosages of monetary medicine continue to be administered and, before long, we will need to deal with their side effects. For now, most of those effects are invisible and could indeed remain latent for a long time. Still, their threat may be as ominous as that posed by the financial crisis itself." - Warren Buffett
With deficit spending by national and regional governments running at unprecedented and in some cases catastrophic levels some investors have chosen to move into gold and gold related investments.
Additional reasons why some investors are leaning towards gold and gold related investments:
- Seen as a safe haven in uncertain times
- Deemed by some as part of a balanced diversification strategy for their portfolios
- Used as a hedge against inflation
- Used as a hedge against currency depreciation
- Increasing global demand for gold and limited supply
Several of Elissa's Board of Directors were instrumental in establishing or contributing to major gold and silver companies. Specifically Elissa Director Arnold Armstrong, who was a founder and a founding Director of SilverCorp Metals, (NYSE-SVM) the lowest cost silver producer in the world and Mel Klohn, Executive, a former Vice President of Exploration for Yamana Gold Inc. (NYSE-AUY). Yamana remains one of the largest gold mining companies in the world.