February 2010

Bitten by the gold bug

By R. Hutson

 

Left to right: Curtis Clarke, president & CEO, Behre Dolbear Canada; Joe Hinzer, past chair, CIM Toronto Branch; presenter John Ing; Keith Spence, chair MES; and Rick Hutson, chair, CIM Toronto Branch


This past September, the CIM Management and Economics Society (MES) and the CIM Toronto Branch held their second annual joint luncheon at the National Club in Toronto. Long- time “gold bug” John Ing, president and CEO of Maison Placements Canada, gave a lively presentation on the “Audacity of Hyperinflation” to more than 150 guests.

Ing believes the U.S. government’s massive spending (mainly in the form of printing money) and the increasing amount of U.S. debit held by “nervous” Asian investors (notably China), are indicators of very uncertain times ahead, but are a positive outlook for gold in both the near and longer terms.  He predicts that gold could reach $2,000 per ounce within the next 12 months.

Past branch chair Joe Hinzer and society chair Keith Spence presented Ing with a plaque and acknowledged a donation that was made on his behalf in support of PDAC’s Mining Matters. Behre Dolbear Canada graciously sponsored the reception prior to the luncheon.

Rick Hutson is the chair of the CIM Toronto Branch.

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