Monday 26th September 2016

Resource Clips


Fortnight in review

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Last December Docken said he wants to cross-examine Ingrid Felderhof and Jeannette Walsh, David Walsh’s widow, about their finances.

According to the Northern Miner’s December 31 edition, John Felderhof, his wife and her four children from a previous marriage now run a small convenience store in the Philippines, where they “supplement their income from a restaurant run out of their kitchen. They also sell rice and rent space on their roof to a local company. The family works six and a half days a week and earns about US$850 a month.”

Massive fraud notwithstanding, Felderhof insisted Bre-X’s disgraced flagship does hold gold. The notorious Busang project “is going to be mined by a company one day,” he told the Northern Miner. “There’s no doubt about it.”

Born every minute

Investors have been warned not to buy Taliban gold in fast-food parking lots. According to a Canadian Press story in the March 26 Vancouver Province, three guys got $760 from a Kamloops, British Columbia man, after telling him their trinkets constituted wonderful jewellery fashioned out of smuggled gold that once belonged to Osama bin Laden. Post-sale, an appraiser apprised the dupe of the truth.

To see oneself

“How Franklin Roosevelt secretly ended the gold standard” is a short, interesting account by history professor Eric Rauchway in a March 21 Bloomberg commentary. But the author could be accused of speaking with the received wisdom of today when he dismisses Roosevelt’s contemporary critics. Their defence of the gold standard, Rauchway maintained, indicated that “gold retained an alchemical power to turn nonsense into received wisdom.”

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