Today the gold mining business is presenting an attractive scenario. The price of your product is going straight up, meanwhile the costs of production are going straight down.

"The economics of the gold mining business are getting better and better every day," says Peter Schiff - a man well respected for his accurate predictions on the US economic crisis - who earlier this week pointed out this advantageous gold mining scenario.

As currencies are being driven down in the countries where gold is being mined, so to are the costs of labor and overhead required to produce it. In other words, it is becoming cheaper and cheaper to produce gold, meanwhile you get more money when you sell it.

And indeed, the currencies of the world are in a downfall, driven by inflationary government policies of printing endless supplies of money. Creating debt like there is no tomorrow.

Well, this drives down the value of currency and everything you buy with it. Driving down the cost of labor. The price of equipment. The cost of land.

Sure, no one is immune from the massive inflation the government is creating - and as a gold miner some of your profits are eaten by inflation, but you're still ahead of every other industry that doesn't have the luxury of producing gold. A product that is incredibly lucrative right now, given the fact that every other measure of wealth, namely the government printed fiat currencies are headed towards failure and total confidence loss.

Now is the best time to be in the gold mining business.

Particularly if you operate in Canada or better yet, Australia or New Zealand. Where you can take advantage of the benefits of prime living standards, a high gold price, and the premium you can gain on the US dollar / New Zealand dollar currency ratio. Which today puts an ounce of gold at about $2000 NZD.

"I can't even think of a better business right now than being a gold miner," said Schiff earlier this week.

Point this out to a gold miner, and they'll probably say to you that they have been waiting a long time for this scenario. Not necessarily this scenario, because no one wants to see a severe recession or depression, but a scenario in which it is finally handsomely profitable to mine gold. For years, the final sale price of an ounce of gold has barely produced a profitable return to justify getting it out of the ground.

Now, with the new economic climate - which is driving down stocks prices, driving down currency values - the real attractive investment opportunities exist with these very gold companies.