We definitely disagree that more gold mine deposits won't be found cheaply at lower cost than existing deposits. Unlike most goldbugs, I find that the only problem is exploration, which has covered less than 1% of the earth's prospective surface. 30 years ago they said the same thing about oil,...and they keep finding more. There will be cycles no doubt,...but lots of cheap sources of gold are yet to be found,...and the above ground inventories keep getting bigger.
1) I already displayed that fiat currencies blew gold away the last 100 years (with interest),...gold keeps it value in relation to some goods,..but loses tremendously with respect to others.
2) and 3) are market timing,...good luck.
4) Eldorado,...you are on your own there.
5) The charts rely on the past,...no one can predict the future,...or are you Nostradamus (gggggggggg) in which case we are all toast. Gold could be a bull in one currency,..and a bear in all others.
6) I agree, gold won't go beyond average production cost,...I disagree on what the average production cost is as I think it's far lower than most goldbugs do, and I think there is a chitload more gold out there to come on line than goldbugs wish there was. CB's can dump, and so can people with scrap.
7) Many shorts, are hedges against some long,...problem is as the shorts are liquidated, the longs become overbought and start to be liquidated then the original short becomes a long and we go around in a circle,...good luck again.
8) In my opinion you don't know what you are talking about with ABX. People like you and the goldtwits will talk ABX down,...then I will buy,...then the earnings will come out and ABX will trounce the rest of the crap because they will make even more money. I will make money. ABX is locking in a price for some of their reserves. The vast majority of their reserves, and all of their resources are unhedged. You don't seem to understand this.
9) In my opinion, you don't have a clue what ABX has done with their hedging program. They are far ahead of their peers for performance over the last 15 years,...and can quickly overperform them in the future because of superior mining managment.
10) Fifteen years of forward sales as per Barrick,...has made them billions to increase gold reserves that only a handful of their competitors had the intelligence to do.
11) You assume that all Barrick management and the board hold few shares. This is a stupid assumption based on a couple of board members actions. Then there is the whole notion that management owning shares means something,...let's talk Enron and what's going on in the US stock market with free options and all that chit. I prefer that management makes money for the company or gets the boot. That works better in the long run.
Follow this guy around for a while,..ask him some questions, he has good research. Let's discuss his research instead of Gata bullchit.
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