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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 389.05+0.4%Dec 10 4:00 PM EST
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To: Maurice Winn who wrote (28267)1/23/2008 7:07:29 PM
From: TobagoJack  Read Replies (3) of 218383
 
just in e-mail in-tray - good news for physical gold

quote

new US mining law in the works - the socialists in Congress are basically proposing to kill all new mine development in the country, while making existing mines unprofitable. as i've often remarked elsewhere, when people talk about political risks to mining they often point to places like Russia or South Africa, but in reality the political risk is just as high if not higher in the US:

snip
"The House in November passed the Hardrock Mining and Reclamation Act of 2007, which would update mining laws that have been in place since 1872 and slap hefty new royalties on gold, silver, copper and other minerals mined on public lands."

luckily the senate has a number of pro mining figures who are trying to block resp. amend this nonsense.

reuters.com

next e-mail
that will never make it thru the senate, especially if the economy weakens further (which it will).

and next e-mail
definitely not in its current form, i agree. but the temptation to change a law that has worked splendidly since 1872 will be too great, so at least a part of the proposal will likely survive.


unquote
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