The U.S. Gold Reserve is in play.??
The discovery by James Turk of the Freemarket Gold & Money
Report that, as Turk puts it:
"the U.S. Treasury quietly made a subtle change to its
weekly reports of the U.S. International Reserve Position,
which includes the U.S. Gold Reserve.
This change was first made May 14 ... It says
the U.S. Gold Reserve is 261.499 million ounces
and importantly, that the gold is now reported
'INCLUDING GOLD DEPOSITS AND, IF APPROPRIATE,
GOLD SWAPPED' (emphasis added).
"This description provides clear evidence that
the U.S. Gold Reserve is in play.
Gold has been removed from U.S. Treasury vaults and placed
on deposit, presumably in the couple of bullion banks
the Treasury has selected to assist with its gold
price-capping efforts.
Gold placed on deposit gets loaned out by these bullion banks,
and then sold into the spot market to try capping
the gold price."
This is exactly what the LeMetropole Cafe gold bugs have
long said was happening.
It may seem like an arcane point.
But I remember when the idea that central banks
were systematically selling gold at all was dismissed
as crankishness.
Yet it's now universally acknowledged.
And gold, by the way, has fought its way much higher just
as the gold bugs said it would.
Turk's conclusion:
"This new evidence provided in the U.S. Treasury report
as well as the rising gold price itself suggest to me
that we are now witnessing the last scramble by
the gold cartel to cap the gold price.
It is a vain attempt by them, acting under the instructions
of the U.S. Treasury, to make the world think the dollar
is worthy of being the world's reserve currency when in
fact everyone knows that it is not.
In short, the wheel has fallen off the truck.
The dollar is heading for a train wreck.
Use whatever metaphor you want, but the message is clear -
the dollar is in serious trouble ...
"The flight out of dollar-denominated assets is gaining
momentum, and gold is one of the safest places to be
in a currency collapse."
by PGMBOY
--
NXG may boost production to 430.000 oz/year -
at a cash cost of just $184/oz.
Annual cash flows will be about $250 million/year and will
increase when Davidson adds 175,000 oz/year in 2010.
No debt and still over $140 million in cash,
after this acquisition.
Annual cash flow will be about $0.90 per share in 2008,
implying a fair value of about $9 per share at
a conservative 10 times cash flow.
RE:
history going to repeat itself -
Northgate at $18 in 1971 - would be about $180 at todays value -
its a strategic bargain today -
its a long bull hike back UP -
if history do repeat itself -
and some investors feels today that its -
Worth investing for......
Too bad this truly Native Canadian Kid has to take a fair
chunk of it's considerable cash...
along with the potential employment
riding with that cash, driven out of the country..
Such is the risk of a meddlesome bolshewitchticz
bureaucracyz with too much time and taxpayer fiatz-money
in it's hands only think about their own goldenz
pensionz umbrellaz, zzzsleeping at their duties? -
or carrying the heads under the arms?
and are braindeadz?
IMO.
Onward to Australia we GO, mates!
NXG Management Presentation -
northgateminerals.com
Imo. Tia.
God Bless
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