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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (47662)	3/20/2009 1:15:53 AM
From: Maurice Winn	3 Recommendations Read Replies (3) \| Respond to of 217580

Wow, 300 tons a year of gold produced by China. That's a LOT. It's an Easter Island Moai culture in the process of formation. That's worth many $billions per year [at current prices]. As I explained years ago, if gold displaces US$ as money, the price would have to go to something like $10,000 an ounce and mass hysteria gold rush economics would displace sensible 21st century economics. 300 tons x 30,000 ounces per year x $1000 an ounce = $10,000,000,000 per year. It's not a big deal compared with what Big Ben produced in the last couple of days, [he does it $1 trillion at a time] but it's still real money. The cost of production must be about $200 an ounce so the profit is pretty good. That's why gold economics gets a lot of impetus when fiat fear is endemic. Mqurice