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New York Sun: FTX and the Age of Fiat Money
From the New York Sun
Thursday, November 17, 2022
The best story so far on the collapse of FTX, at least in our view, is A.R. Hoffman’s dispatch in the Sun that marks the drama as a feature of our national experiment in fiat money. After all, if America had a sound currency, one anchored in the classical monetary specie of gold or silver, we wouldn’t have so many young geniuses out there hawking crypto coins and tokens as units of account and mediums of exchange.
... Dispatch continues below ...
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i-80 Gold Hilltop Discovery Yields Bonanza-Grade CRD Mineralization
Company Announcement
Monday, November 14, 2022
RENO, Nevada -- i-80 Gold Corp. (TSX:IAU) (NYSE:IAUX) reports results from the first four holes drilled to follow up the recently discovered Hilltop Zone that have confirmed high-grade, polymetallic carbonate replacement deposits at the company's 100%‑owned Ruby Hill property in Eureka County, Nevada.
The discovery hole in the Upper Hilltop Zone returned an impressive 515.3 g/t silver, 28.9 % lead, 10.5 % zinc, and 0.9 g/t gold over 28.3 meters in hole iRH22-43. Results contained in this release are from the first four core holes drilled to follow up this discovery and additional drilling is being completed in both the Upper and Lower Hilltop horizons with assays pending.
Highlight results from recent core drilling in the Upper Horizon at the Hilltop target include:
iRH22-51 -- 33.0 g/t gold, 3,010.0 g/t silver, and 63.5% Pb over 0.6 meters and 3.1 g/t gold, 683.3 g/t silver, and 37.6% lead over 14.6 meters.
iRH22-53 -- 1.9 g/t gold, 631.3 g/t silver, 7.4% zinc, and 33.0% lead over 18.3 meters.
iRH22-54 -- 0.6 g/t gold, 374.1 g/t silver, 3.9% zinc, and 20.2% lead over 20.8 meters.
iRH22-55 -- 60.2 g/t gold, 908.7 g/t silver, 1.1% zinc, and 15.7% lead over 10.0 meters, including 83.2 g/t gold, 1,261 g/t silver, 1.5% zinc, and 22.1% lead over 7 meters.
Owing to this successful drilling at the Hilltop Zone, the program at Ruby Hill has again been expanded to facilitate additional step-out drilling at this target. In addition to the Upper Horizon, drilling is testing the Lower Horizon (assays pending), where the initial hole intersected multiple zones of mineralization including 238.8 g/t silver, 11.0% zinc, and 9.0% lead over 9.4 meters and 469.5 g/t silver, 11.8% zinc, and 18.2% lead over 2.1 meters.
"We believe that the grades of mineralization at Ruby Hill are truly world-class and the Hilltop Zone ranks among the highest-grade new discoveries being drilled anywhere on the planet,” i-80 CEO Ewan Downie said. ...
... For the remainder of the announcement:
What makes the point so devastating right now is that while the collapse in the value of FTX tokens, known as FTT, is breathtaking, it is no more breathtaking than the collapse over the past 50 years in the value of our own government’s Federal Reserve Notes. The collapse in the value of the dollar might have been more gradual, but since 1971 the greenback has shed 98 percent of its value, as has FTX’s token in the recent debacle.
Which is worse? ...
... For the remainder of the commentary:
https://www.nysun.com/article/ftx-and-the-age-of-fiat-money
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