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Gold/Mining/Energy : Gold Price Monitor

GDXJ 128.04

+0.7%

Jan 16 4:00 PM EST

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To: Tommaso who wrote (2451)	10/25/1997 12:27:00 PM
From: Richnorth	Read Replies (1) of 116871

You have not factored in the costs of exploration for, and costs of construction of, gold mines. Also it is not reasonable to assume that all gold mines will be able to produce gold at $US150/oz for an extended or indefinite period of time. Don't forget that some mines have ores that are richer in gold than those of other mines. Also their reserves will run out and exploration for new mines will be necessary. When this is taken into consideration, it is easy to see that an ounce of gold costs much more than $150. There is no doubt that western governments, and particularly those of the "new era" persuasion, are working collusively to disabuse their citizens of the notion of the monetary worth of gold by subtle or opportune means. Because "paper money" which can be "created out of thin air" seems to make for greater flexibility in carrying out their politico-socio-economic agenda. It seems that this is not only pragmatic but also practical (do-able) so long as they don't go overboard. But history has shown that politicians are human and highly prone to making mind-boggling mistakes! And like everyone else, they are subject to the Law of Cycles. Inflation will sooner or later return! And gold will have its day in the sun! Why governments dislike the gold standard is best summed up in the words of Alan Greenspan:- "The abandonment of the gold standard made it possible for the welfare statists (government bureaucrats) to use the banking system as an unlimited expansion of credit. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation... Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process." Alan Greenspan

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