On a wild day of trading in the markets, here is one of the most shocking things you will ever read.
Eric King: “Michael, you have lived through hyperinflation. Can you talk about that?”
The Collapse
Michael Kosowan: “Yes, Eric, I was working in the mining industry and living in Jakarta in 1996 – 1998. I am sure all of the KWN readers remember the ‘Asian Contagion,’ when the Thai baht began to collapse first. This set of a domino effect that caused the other Asian currencies to begin to collapse.
Devaluing At An Incredible Rate
As I mentioned, I was in Jakarta at the time and I was receiving half of my paycheck in US dollars and the other half in Indonesian rupiahs. What happened was the Indonesian rupiah was devaluing at an incredible rate, from 1,500 vs the US dollar to 15,000 vs the dollar. What I remember about it, Eric, is that it seemed to happen so quickly. It was like a thief in the night, robbing the Indonesian citizens of their hard earned savings/purchasing power.
Millions Of People Would Run To Spend The Money
Just to give you an idea of what it was like, Eric, I would get paid along with with everyone else who was working in Indonesia and we would literally run to the nearest stores to spend the money because it was being devalued by the hour in many cases. Meaning, if you hesitated, your capital was evaporating.
“Chaos On Steroids”
And if you think of a major city, such as Jakarta — the capital of Indonesia — where 9 million people are set upon drawing as much cash as they can out of the banking system and running to spend the money, it was chaos on steroids. Let me paint a picture for you: While people like me were running frantically to exchange our money for goods, the common people were unable to afford the basic staples of life. Meaning, they were unable to eat in many cases.
Chaos Turned Into A Cloud Of Desperation
This chaos turned into a cloud of desperation that hung over the city of Jakarta, engulfing the citizens. Once you have lived through something like this, you don’t forget it for the rest of your life. When people become incredibly desperate because they have nothing left to lose, law and order disappears and that is when you see people standing in sandals in front of tanks. The young people believed that the inflation had stolen their future and there must be a better way. In a nutshell, the government was overthrown as the city was engulfed in flames.
The Importance Of Gold
But, Eric, living through this experience also taught me about the importance of gold as a store of value. What I mean by that is, gold represented a calm in the fiat currency storm that had overtaken Asia. Said differently, Indonesians that had their wealth stored in physical gold, got through this crisis without having to witness their wealth destroyed.”
Things Are Getting Exciting
Eric King: “That is an amazing story, Michael, and I’m sure it has strengthened your belief in gold as a store of value and also encouraged you to continue your work in the mining industry. You have worked for some of the top senior companies in the world but you now are now president and CEO of one of the most exciting junior mining companies in the gold sector. Your company has a massive treasury and no debt, with an enormous amount of upside for investors. These are the primary reasons I have purchased nearly $300,000 of your company’s stock. But you have some very exciting news that your company just announced today.”
A $2.3 Billion Acquisition
Michael Kosowan: “That’s true, Eric. We just announced AN acquisition in Utah, which adds to our already massive project in Newfoundland. The reason this is so exciting is because the geology is very similar to what is evidenced in the legendary Carlin Trend in Nevada. And, Eric, we are only 50 kilometers to the east of what has been described as “the most significant oxide ore discovery in Nevada in more than a decade, which took place at Long Canyon. Long Canyon is to the order of a 5 million ounce gold deposit, purchased in 2011 by Newmont Mining for $2.3 billion. That massive buyout is what has us so excited about the potential of this project.
The Blue Sky Is Uncapped
To keep it simple, Eric, the blue sky on this project is uncapped. The reason this is so incredibly exciting is that we are seeing a Carlin-style mineralization along this corridor where there has been very little work done, and we already have a team on site that is doing the preliminary work necessary so that we can move as quickly as possible to unleash an aggressive drill program for discovery.
Massive Insider Buying
What this means for Torq Resources is that we have just added an enormous amount of blue sky with this acquisition. As you know, Eric, insiders have recently purchased an additional 3 million shares of the company’s stock. Because of this massive insider buying, insiders now own 30% of the company’s stock. The reason we are buying the stock is because we believe we can take the share price of Torq Resources above $10 a share, which is 16-times higher than the price the shares are trading at today.” Torq Resources symbol TORQ in Canada and TRBMF in the US.
***Also Just Released The Biggest Danger To Markets May Be Set To Unleash Chaos CLICK HERE.
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