Loading ...and permit shareholders ( only ) to ‘own’ that stockpile through some sort of warrant offering , we would see gold reach its potential , I believe .
I learned about the Gold Mining business from the S.Africans..and ANGLO
when the communist Mandella took Political control of S.Africa ..The british mining were going to lose everything they built for 150 years ..until they figured out that they could BORROW from the Central BANKS 25 years of GOLD production ..They then took it out of S.Africa and left a MORTGAGE on the mines they built to be paid back in GOLD for 25 years……Fuck you Mandella ,your not going to steal from us..The BANKS will get whats due them.. Mexico is NOW threatening the MINERS ,so do what the British did …borrow the future production from Central Banks ,take it out of the Country and leave them with a Mortgage to be paid back to the BANKS in Bullion….THATS why MINERs will never MAKE money .The mines are located in Countries run by Communists who want to steal the miners assets……So do what works…GIVE Mexico a mortgage on the mines to go along with control..DAMM Communists everywhere ! BORROW the GOLD from some BANK move it out of the Clutches of Grabbing communists and give them a Mortgage to be paid back in GOLD or SILVER.. I never thought Id say this .”.thank GOD for Bankers !” hehe.. They know how to deal with Communists..!
And on the topic of cars
I have a good friend who is a snowbird . He takes great pride in the fact that his commute from the South to NE and back twice a year in his hybrid gets 53 mpg . In order to achieve that , he travels the most of the length of I-95 at 45 mph .
An accident waiting to happen !…even if he stays in the slow lane , which I do not believe he does .
Ororeef – Not to mention…
The cost and environmental impact of those EV batteries when they must be replaced and discarded !
Gold miners never made money
thats why I went with The ROYALTY companies ..they dont mine GOLD ..they FIX their COSTS of every ounce the GET..They are the BANKERS of the Gold Miners ,they get paid in GOLD..,not paper money !
GM
is a money losing business,cannot survive without Gubberment subsidies.Costs are much too high.They must run a car plant at over 80 % capacity to make money.Ford had the same problem but acted sooner and cut cars back,now GM..big crossovers and trucks make money….NOthings changed in 20 years except words….Now days a small car costs 35,000 and up ..absurd to try to sell that with wages declining for the last ten years !CUT your costs ,lower wages of “non producing management”to almost zero…overhead is too HIGH ! Costs should be dictated by what the public will pay for..get rid of expensive radios,sound equipment ..your telephone has a better navigation system to save gas. duplication not needed.BIG engines not needed.90 HP is enough..to run air and everthing else and still give you 40 mpg.Toyota does it every day…Car manufacturing will be history if they dont stop the cost cycle..
Why not make a two seater CAR with a detachable small truck body…Just like a 18 wheeler ..90 % of driving is with one person in the car.Now theres an IDEA ..Extension cab to accomodate 4 people when needed .Pollution control equipment not needed on cars that get 40 mpg or better.
California Environment regulations reduce MPG by 30% ,you burn 30 % more gas to go the same mileage…special gasoline also reduces MPG ..and raises costs of gas 25 %.Electric cars are good only if battery costs are reduced and reliable.Who wants to drive 250 miles and have battery suddenly quit ?
Then fail to hold a 100 % charge and its gets lower with each charge cycle…Go electric and dont sell the batterys with the car…cut car costs by $9000 per car let the battery manuf fix the cost of replacing batterys and subsidize them until the get cost down .Make the car for $12,000 without the battery .
Government can then fight the Battery mfg and mandate lower costs at the source of the cost cycle..
Get the cost out of the CAR or they will all be gone ! SEPARATE the cost of the CAR from the battery business. Either do that or buy a Toyota Corolla like I did in 2003 for $16,000 ,it gets 40 mpg highway 38 in town ..My Capital Cost per year is about $1100 per year my gas cost is about 5 Gal per week ….who need a $9000 battery ? that need replacement every 4 years..? Who needs to spend $50,000 for a car ?
My repair cost has been $200 FOR 15 YEARS…iT HAS AIR ,HEAT,radio carrys 5 when needed …gets 37- 40 mpg on reg gas. Who needs to pay some auto exec 3 mill bonus each year ? FORD,GM should get out of the CAR business ..They were the worst cars i EVER OWNED UNTIL i SWITCHED IN late 1970’S TO TOYOTA..Cadillac by far the worst car I ever owned !1977…had a brand new olds 98 ,1978 and the motor mount fell off after 1 month while on vacation….GOOD bye FORD GM ..your outta here…! You make crap ..You rip me off since 1955 for 20 years no more…no more Union Hoodlems making my cars..
eeos @ 11:20
“cash trading account”
So you kept some shares? Long term?
Hey eeos
Can’t say I blame you one bit. Hopefully you’re young enough to recoup.
My time for recouping has long since passed.
I wonder if the Oil business is going to ask the PM miners, what life is like
when the scum run yr product….Oil has just dropped over 3 % in last 2 hours….after all the Oil biz is just a sideshow…no debt to talk of, no dividends to pay, hardly any workers, no countries rely on the income….just a backwater. Gotta keep the FANGS flying.
My Views on the miners ( and I am still hanging on in spite of this )
1. Every operating mine is a depleting resource .
2. While PM prices are kept low , miners are forced to a) borrow more , b) high-grade (accelerating depletion ) , or c) dilute shares. Banks and big money elite win , collecting interest ( the former ) or ( the latter ) scooping up real money (PM’s long term ) for fiat ( which can collapse , and they are hedging their bets , it appears {see Rob Kirby} ).
3. Open pit operations accelerate costs as the operation grows , because the hole keeps getting bigger and more expensive per ounce recovered – unless there is a new , very rich discovery deeper in the pit , which is unlikely .
4. Underground mines ? see 1. above .
Conclusion ? I would have done much better by following WineDoc’s lead… ‘Keep stacking’ .
That is what the big money appears to be doing . The problem is keeping it safe .
I just chucked my cash trading account
10 years of holding my head underwater was enuf for me. Id never make the pm mistake ever again. If I would have done tech stocks and real estate I’d been a millionaire. Stupid shit. I give gold the right to bust $2k now. #^@^@ $&@^@%!
Just for Yucks
New Poll New Poll
Horse’s rear end Krugman writes a good article
Paul Krugman, a Nobel-prize winning economist, says that this next financial crisis will be a shock to most because there’s not one clear indicator that would signify an impending crash. He also says many people have a “real amnesia” about an economic crash and the next one “will be worse.”
According to Money And Markets, when surveying the global economy, there is nothing obvious to point to as the next big thing primed to crash the markets. Previously, the housing bubble in 2007 signaled the 2008 recession. But now, we are in an “everything” bubble where global government and private debts are at disastrous levels and the housing bubble continues to get even larger than it was in 2008.
Krugman believes that the nest time the economy tanks, it will be even worse than the recession of 2008. Perhaps the biggest red flag, Krugman says, is selective memory as to why the last crisis happened in the first place, particularly when it comes to shadow banking institutions that look and function like banks but are not regulated like banks. Krugman insists that more government
Sometimes you can squeeze blood from a stone
Venezuela pays miner $425m in move to safeguard Citgo
Venezuela made an partial payment of a settlement designed to resolve a $1.2 billion arbitration award to a bankrupt Canadian gold miner that’s laying claim to the assets of the parent of refiner Citgo Holding Inc. if it’s not paid in full.
Crystallex International Corp. received $425 million in November, and will suspend all enforcement efforts until at least early next year, according to Canadian court documents. Venezuela is now required to pay the remaining balance in installments by early 2021, and deliver an “acceptable security interest” or collateral to ensure payments its outstanding obligations, according to the documents.
Hook
I’m convinced you lose money on pm’s no matter what the hedge funds do.
You lose even more in pm shares.
I don’t know about this one but it’s hard to get permitted in some of the European countries
Eldorado Gold’s Bolcana project has 6.5m ounces of gold
Buygold
While it’s true banks own / control many hedge funds, the managers are actually that stupid. It could be argued they must ‘play the game’, and how would they store the physical, however only a moron goes back for a beating year after year, never mind day after day.
Of course in the big picture (their portfolios) they don’t care what they lose in their trivial SLV bets, which they view as a broad market hedge.
It’s peanuts for them, which is why they come back month after month — year after year.
If you don’t realize that…you could lose a lot of money in precious metals because they are not about to stop.
Cheers
R640, Capt. Hook
Yup gonna be one of those days. Got our asses kicked on the COT Report as the Hedge Funds lost again. I honestly think the banksters are playing both sides in the futures market. I mean seriously, can hedge funds be that stupid?
I see gold down a couple beans. USD flat.
The only thing left to watch is if the SM will give up all of yesterday’s gains. I think there’s a fair chance.
Two Different Gold Prices This Morning?
On Fox business channel I see $1230 on Bloomberg I see $1223.
Buygold
Come on…get out there and buy some of those SLV calls.
They’re great…just ask the hedge funds…they are loaded with them and they know everything…right?
To da moon.
Load the boat.
Full steam ahead.
Chuckle
Another day of drift
on a slow rowboat to nowhere.
One of my duds is getting dudier.
Aurcana has been in mismanagement mode for years now should of sold it a long time ago. Their gonna buy equipment for Orion and it’s gonna cost us a 5:1 split???
Emergency meeting they call it next month.
http://www.aurcana.com/_resources/pdfs/181210-AUN-Notice-and-Info-Circ.pdf