BRAVO!!! WillieT re:["RE: Newmont in the depression. Remember, public ownership of gold was illegal per FDR. The price was fixed at $35. Newmont stayed in business to provide the USA with bullion to support itself, along with some foreign sales. Since the price was fixed, and production purchased by the US Gvt, it was hardly similar to the current company. Also, as labor and productions costs dropped, it was able to make a profit. Thus, it was in a different situation from most for-profit companies.
So forget about depression era gold vs. today. Not even in the same category."]
You have no idea how long I've waited for that point to be
brought up. Best example of critical thinking that anyone
has posted here since the inception of this thread.
Thank You.
That little fact has seeminly escaped 99.99%
of all gold bugs over the last 70 years.
Next, someone is going to tell them that there's
no such thing as the tooth fairy.
Another myth busted.
-- whodathunkit?!?
S.O.T.B.
PS:
I think gold bugs need to brush off the history books,
and start studying deflation and the Great Depression
to separate facts from fiction.
How did the looters bring the last great
American economic bubble to an end in 1929?
That event was the largest transfer of both power,
and wealth in modern history (this one's close).
We appear to possibly be heading down that
same road yet again.
The crossroads are nigh, and you will all have two choices,
be "bagged" by the looters, or join those headin' to Galt's Gulch.
Truth, or Myth ... Fact, or Fiction?
...the choices will be all yours. |
