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Strategies & Market Trends : The coming US dollar crisis
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To: Tommaso who wrote (23488)10/15/2009 5:55:43 AM
From: Real Man   of 71442
 
None of SA miners have large profits now. As Rand profits
soared last year, they increased dividends. Yes, none of
SA miners soared in the gold bull so far, which makes
them deep values. RSA still has 50% of World gold reserves,
but its share of production has been declining substantially due
to high costs. If gold goes into mania, which could easily
happen due to fear of global currency devaluation and relatively
small size of the gold market, RSA miners, now options on
their gold in the ground, will once again become cash
cows. GLD market cap is 15% of MSFT market cap, as I posted
earlier; on the other hand, it is already #6 holder of CB gold.
Most gold hoarders will choose bars over GLD. There is no
limit how high gold can go in a mania driven by intense fear
of currency debasement. Very silly prices that will depend
on that currency debasement. We discussed it before.
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