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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: William JH who wrote (53442)	5/31/2000 2:19:00 PM
From: Enigma	Respond to of 116779

Yes but that 45% is the dominant factor - there's just no possibility of that happening with gold producers - and, in case you've missed this debate which seems to have its own repetitive cycle - even if the gold producers could get together to drive up the price they would face the combined ire of all the printers of money out there - likely leading to sanctions as in the 1930's. Successful producers will be those who mine ore at a profit whatever the price. If the price falls too far then many producers will go out of business - but if all short positions are brought back there are enormous profits to be made. I remember reading Peter Munk saying that if the worst came to the worst Barrick would either cover and wait it out - or cover and go into a different business altogether. You have to look at this business as it is - not as it might be or could be - those things are not going to happen - I could add 'unfortunately' - but that would be redundant.