Your point about mines, isn’t it funny that at high prices, they aren’t rushing out to mine more?
I also find FCX, Freeport McMoran Copper and Gold, trading at these levels to be a head scratcher? Why is the share price so low, when they mine the stuff? Stock is at 37 down from 127?
I assume the reason why gold isn’t spiking higher, or reacting like it did in the past, is that today there are better things to manipulate, like oil. In the case of oil, it actually was a fabric necessity of the global economy.
Take away a mans oil, he can’t drive. Take away a mans orange juice he can’t have a screwdriver. Take away a mans wheat, he cannot make a big mac, but if you take away a mans gold, he just can’t have a cheap grille. How pressing is that?
Not funny at all. They're just about going out of business because they can't borrow any money from the wrecked banking system. Share dilution has become exponential.