Amen! Double D and the rah rah crowd should read the Gold Pyramid three times, maybe four or five until their myopic mindset begins to grasp the significance of the relationship between the cb's, the bullion bankers, and the producers and catch 22 they are in. As the article states, the game will eventually come to an end, what the guys on this board do not understand, is that the producers have a vested interest in keeping the gold price low. This prevents the producers from acting in the interests of the shareholder. They are coconspirators with the bullion bankers who have made a bundle in the gold carry trade. The fiction printed in the annual reports by the gold producers is feel good document for those who own the companies. Management of these companies have not worked to the benefit of the shareholder and drool when they read the posts on these boards. The longer the investor searches headlines for that magic event that will catapult gold up, the longer management can work on their own interests rather than your interests. They love the rhetoric on this board, the Double D's proclamations are music to their ears. They are the equivalent to the hedge fund manager who is not exercising full disclosure to the shareholder.
Rather than search the newspapers for the sky is falling headlines, spend your time leaning on the producers. Sell your shares in the mining companies and mutual funds that invest in them. Do what they do, work with paper and drive the price down. At some point, when shares prices retreat to delisting levels, they will be forced to act like corporate officials rather than members of a select club.
Ken |
