Exactly, it's not that gold has 'gone up', it's that the usd has gone down against most everything else ... and yes, you have to wonder how many understand that, probably most of SI but not so much in the world at large
The way we express currency exchange rates is backwards, we should be measuring all the fiat productions in terms of gold ... in milligrammes let's say, so usd would today be 72.83, where at 'PoG 275' the usd was 113.12 ... the loonie today is valued at 60.45mgAu, where at 'PoG 275' it traded well above 70mg, cdn/usd being in the low .60s at the time, and now .83ish ... lots of variation in the meantime, charts in this way of expression would be interesting ... some goldbug site already does something like this, probably, i don't read much on them as they seem to me to give off more than a whiff of dogmatic religion
'to be about exploration competence IMO, not about the POG'
Agreed, to a considerable degree, still there will be the advanced developments, the near-mines and the starting mines ... Alamos and Anatolia for instance, they've got metal drilled off and quantified, so for the market to evaluate that the PoG will necessarily come into the equation .... plus there's the rising-tide effect, not that you can predict its timing or anything, but 'PoG 500' is going to get noticed, so will 'PoG 360' ... but competence will still rule, for sure ... it's late in the cycle, a long way off yet, when you sell your genuine efforts for big bucks and rotate a small portion of them into Pure Promotion Inc
|
