RE: RE: $10 per sharephantasmagoria...
5. suggesting IF gold ever corrects!
Dude if you want delusion then suggesting gold is goin anywhere but up is THE definition! Take a look at the USA my friend and their finances. Under GAAP accounting rules they would have been bankrupt a decade ago! Geitner just announced if they dont raise the DEBT ceiling law by the latest MAY 1st then they start to DEFAULT. I ASSUME u understand what that would do for the price of gold. Or they just keep borrowing more money. Secondly if interest rates return to the average for the past hundred years of 5.5% then the interest payments will create trillion dollar deficits for the foreseeeable future. How do they keep interest rates down if bond prices are goin down and yields up? They buy there own debt with newly created money and u know it! Bernanke and the boys have painted themselves into a corner. If they raise interest rates then the debt service bankrupts the country and if they dont then inlflation destroys the dollar. Either situation will take gold much higher. But you and i both know that the dollar will be sacrificed because the only way to get out of this much debt is to inflate it away! 70 trillion in unfunded liablities comin down the pipe in the next 20 years and the baby boomers will not allow their benefits to be cut and they control the voting power in that country so any politician who suggests that route wont get in. They will just keep promising everyone that all is ok and print up the dollars to deliver on those promises. It will only end well for those of us in gold and gold stocks and i guarantee that deposits with much lower grades than ours will be very profitable. Argonaut gold which bought out my company Castle last year is mining a 2 million ounce deposit at .4 grams a ton at a cash cost of 500 an ounce so gold would have to FALL a long way my friend and u know it!
GLTA gold longs in 2011 and especially GBB holders!
Longrider