You are here
Lawrence Lepard: Trump is engineering a 'crack-up boom'
7:30p ET Friday, January 24, 2026
Dear Friend of GATA and Gold (and Silver):
Lawrence Lepard, investment manager for Equity Management Associates in Sherborn, Mass., and author of "The Big Print," makes compelling observations in his fourth-quarter report for the firm's gold and silver fund.
Maybe the most compelling one is this: "When you have the president saying they intend to grow, and the treasury secretary saying that the Fed and treasury need to be melded into one entity, it is not hard to connect the dots. They are going to force us into a 'crack-up boom.' They are telling us what they are going to do. We need to believe them. None of us owns enough hard assets in this environment. We must own what cannot be printed."
... Dispatch continues below ...
... ADVERTISEMENT ...
Power Metallic Reports Lion Zone Recoveries of 98.9% Copper,
93.9% Palladium, 96.8% Platinum, 85% Gold, and 88.9% Silver
Company Announcement
via Pro.CEO.CA
Monday, January 19, 2026
TORONTO -- Power Metallic Mines Inc. (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) provides preliminary metallurgical results performed by SGS Canada Ltd1 at its laboratories based in Quebec City, Quebec, and Lakefield, Ontario, from representative samples of Lion Zone mineralization.
An initial Lock Cycle Test returned a sulphide concentrate grading 25.8% copper containing very high metal recoveries of copper (98.9%), palladium (93.9%), platinum (96.8%), gold (85.0%), and silver (88.9%), exceeding Power Metallic's most optimistic estimates for recovery prior to this test work.
As previously reported, the copper mineralization at Lion is contained within coarse grained chalcopyrite and cubanite and copper was expected to respond well to conventional sulphide concentration methods. These initial metallurgical tests were designed to determine the recovery potential of the platinum group metals, gold, silver, and nickel. ...
... For the remainder of the announcement:
https://pro.ceo.ca/@newswire/power-metallic-reports-lion-zone-recoveries-of-989
But Lepard also argues that even as the prices of gold and silver mining companies have risen sharply lately, they have not begun to reflect the far sharper increases in the prices of the metals they mine.
The report is full of revealing charts and can be found in the clear here:
https://drive.google.com/file/d/1TDiQ-lbWltk9lS62CAwVBvtSSLb4nokB/view
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $500 will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
