I guess this means it costs more to produce an ounce of gold than you can sell it for now.
It is at that point where one must apply the New Normal supply and demand curve, when one can predict a $0 per ounce price for gold, as physical demand continues unabated, while actual physical, not paper, production has now started going offline.
Joking aside, not even Bernanke and all the paper Gold ETFs in the world will be able to do much to suppress gold prices from reaching their fair value when gold production hits a standstill, and when demands, especially by China, is still in the hundreds of tons each year.
Joking aside, not even Bernanke and all the paper Gold ETFs in the world will be able to do much to suppress gold prices from reaching their fair value when gold production hits a standstill, and when demands, especially by China, is still in the hundreds of tons each year.
Sure they can. All they have to do is point a gun in your face and say "THIS IS the price" a'la FDR. Now Chut Up und eat your swill sssssitizzzen.
All they have to do is point a gun in your face and say "THIS IS the price" a'la FDR.
When FDR abrogated the gold standard in 1933, they made all U.S. Citizens turn in their gold at $20/z. When they had possession of all the gold, they revalued it at $35/oz. Nice little profit for those scumbags.
Something that most people do NOT understand is that a U.S. Citizen is the ALL CAPITAL LETTER NAME they use on all gov't issued documents. This is NOT the natural, living, breathing man. It is a fiction of law. ;)