>>all should wonder about the german gold<<
TJ my gold miner friend, please stretch your imagination. Gold is fungible is it not? So why would the Germans want the same old gold bars back, given they're tainted by rumors of theft from the teeth of Holocaust victims? And why pay those bothersome shipping and insurance costs for bringing it back across the pond?
Why not simply purchase freshly-mined gold in Europe? Particularly when they can have the supreme satisfaction of wringing it out of those lazy Club Med wretches who rank number one on the Teutonic sh*t list? Oh, didn't you know? Being in the gold biz, I thought you were up on this stuff. The logical no-brainer source to gradually-but-steadily replace the German gold is, wait for it, wait for it... GREECE!!! :O)
Greece Welcomes Gold Miners to Rank First in Europe: Commodities
bloomberg.com
Gold mining is gathering momentum after Greece began what it called a “fast-track” approvals program. The Canadian and Australian companies said their projects will add about 425,000 ounces by 2016, worth $757 million at the Oct. 5 spot price, to the 16,000 ounces the country produced in 2011.
“There’s clearly evidence that Greece has woken up to the potential of their mining industry,” said Jeremy Wrathall, chairman of Perth-based Glory Resources. “Politicians increasingly realize that a pro-mining stance is appropriate due to job creation potential.”
Greece, which is also fast-tracking state property sales, is set to overtake Finland as the continent’s largest gold producer within four years, as regulators in Athens sign off on mines kept on hold for more than a decade by red tape and environmental rules. Finland, which mined 220,000 ounces last year, currently ranks 40th among the world’s gold producers. |
