Post by
PGMBOY on Aug 03, 2005 8:06am
GATA VS THE COMMERCIALS FOR THE TRUTH
We are currently in a period of great demand for all metals by the emerging economies of China and India. The above ground inventories of metal have been significantly depleted, and yet we see the metal commercials fighting tooth and claw against higher prices that would make sorely needed new bodies of metals ore economic to mine. Unlike the grain commercials who do appear interested in the continuing viability of all the participants in the production of grain, the metal commercials seem indifferent to the plight of the small exploration companies and marginal producers of metal.
If the world we lived in was one of growing supply and diminishing demand for metal, I would have no problem with anything I have seen in my metal commercials charts, but is 2005 a world of growing supply and diminishing demand for metal? I think not. So it is entirely appropriate for organizations like GATA to ask the reasonable question: what are the commercials in the metals markets doing?
Mark J. Lundeen
mlundeen2@mn.rr.com