B Johnson pens: >>Gold scrap flows responded to higher prices, rising 14% in 2002 to 778 T, or 23% of total supply. This was the highest since the Asian Crisis of 1998. We regard the rising price elasticity of secondary supply to be underappreciated. <<
[[B.J.'s [my] comment: I frequently have mentioned scrap as the biggest
and highest grade gold mine on the planet, and it continues to have
a significant impact - higher prices bring out more scrap.]]
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My comment: thanks for sharing those words of affirmation. I LOVE laboring in the highest grade goldmine on the planet ... even tho' I get trashed for it frequently as GPM's ignoramous Tony H most recently droned hereupon...
Doing my best to increase above ground supply every chance I get.<g>
Assuming the 778 T was short tons, Bob, that means the company website is outdated...it only speaks to annual DISCARDED gold supply at only 18 million oz. annually. Your generous and timely update means the webmaster will get to change the homepage number to the fresh number: 23,230,000,000 ANNUAL DISCARDED OUNCES!
NOW THAT'S A GOLD MINE...23,230,000,000 annual production as of 12/31/02 GFMS latest numbers! Y'all are invited to see the new wording which will be up as soon as the webmaster gets my email. Proud to be a miner in THAT gold mine!!!!!!!!!!!!!!!!!!
HEY TONY....UP YOURS!!!!
YEEEEEEEEEEEEEEEEEEEhaw
Thanks, Bob!
gold & platinum_tutor
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