Copper: the NEW ‘Poor Man’s Gold’
Silver bulls are very familiar with the somewhat facetious label attached to silver: that it is a “poor man’s gold”. However, as investors to the silver sector have increasingly come to realize, with silver inventories plummeting while silver’s importance to our modern economy continues to grow, silver doesn’t have to take a “back seat” to any other metal. Meanwhile, the price for a different, semi-precious metal is surging higher, while inventories for it are in steady decline: copper.
Since the commodities Crash of ’08, I have generally avoided all base metals miners in my portfolio – focusing exclusively on precious metals miners, as it was clear that this sector was going to bounce-back well ahead of any other. However, I certainly never abandoned my general enthusiasm for commodities.
We are currently in the early stages of the largest growth-boom in the history of our species. Previously, the next greatest, protracted episode of economic growth was the rebuilding of Europe following World War II. That economic expansion fueled the global economy for decades, before these mature economies began to substitute credit-induced “bubbles” for real economic growth.
This is not the situation in Asia, nor in many other emerging/developing economies. Here we see a similar episode of rapid, concentrated expansion – except that it is involving ten times as many people as the post-World War II economic boom. As billions of people in (previously) poorer economies begin to urbanize, their standard of living is quickly moving toward the middle-class affluence which Western economies used to take for granted...
full commentary: http://www.bullionbullscanada.…nal-commentary&Itemid=133
Deutsche:
Kupfer: Die neue "Poor Man's Gold"
...Diese erhöhte "Anstrengung" zu mir diese Mineralien direkt übersetzt in viel größeren Energiebedarf. Mit anderen Worten, wird es noch viele weitere Barrel Öl um eine Tonne raffiniertes Kupfer als auch nur ein einziges Jahrzehnt zuvor produzieren. So wie Rohstoffproduktion schwieriger wird, wird es auch noch mehr energieintensiv.
Auch heute, in den meisten Minen Energie ist die # 2 Herstellungskosten, nur hinter Arbeit. Dies lässt uns in einem Szenario, in dem als Öl wird immer knapper schnell, wir viel mehr davon brauchen, um jede Einheit von Rohstoffen für diese massive, globale Expansion zu erzielen...
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