RE:RE:RE:RE:RE:For everyone worried that the sky is fallingHi Traps,
I haven't followed GOLD for a few years, and never heard that the cost to produce in China is over $2000/OZ, while the gold is selling at about $1300/oz, and China is manipulating the gold price. It totally does not make sense. But I heard that the US government is manipulating the gold, since they are printing US dollars 24/7.
tiger
traps7 wrote:
..i must admit my weed stocks faired better than my mining stocks, but am now long the mining sector... I ask a question on BNN the other night,. my Question was , the price of Gold to produce p/ oz, is $ 2,050 in China. Yet the price of Gold floats here at $ 1,300. p/oz so believing that China manipulates the US greenback is reason for keeping the price of Gold down. The Analyst response ,..good point...he said he followed for yrs this therory China manipulated the currency and funded the gold production. He mention gold cost $ 2,300. p/oz to produce and said China and India were the biggest buyers of Gold...He said J/P Morgan was sitting on 750,000 oz of silver also believing silver was a better bet on Gold... To follow up on my question ,if anyone heard the Analyst response that China was horrding Gold,. my thoughts , yes the cost to produce one oz is over $ 2200. so i mention to unhedge the price of Gold from the US dollar and let the market decide on a price . Most miners are struggling at this price so form a Gold cartail same as the Saudies do with the price of oil.. ps,.. Whats actually going on is ,!! The BRICK , Brazil,Russia,India,China and Korea signed trade agreements yrs age i"m sure readers heard about the BRICK Nations in the news but never mention about how they pay for trade. In my opinion, listening to Asian news, all trade amongst is paid with gold and not US currency reason to keep the price of gold down since it cost double the price to produce.. Interesting from this dialouge mention that Russia would offer those Nation all forms of security..............To-Day yrs later from this BRICK news we now have Trade deals and Tarrifs while commodities are kept under the BRICK Nations control.. In Canada, we have little Potatoe for Government who"s against Pollution and Industrial language leaving our resources to-be manipulated....... PS,. i see zinc and copper as 2 to own going forward,...TV, as a producer,..BAY , as a exploration play. ,.without prejudice.Traps7 By The Way,.. BAY ,is headed up by Dr. Broughton. Dr. Broughton spoke at PDAC on zinc,. as Dr. sees zinc shortages by 2020... Dr. Broughton is also founder of IVN big African find. I mention BAY here first at $ 0.13 and on current doing a FL. BAY , still not a retail name has seen big backers step up and take position seeing the results of the gravity survey. News still has not hit the Media so still time to get a position....Possible largest zinc,copper find in CANADA/wORLD ,. Rumour, has it RickRule holds a major position in Aston Bay......Traps7