It should be blatantly obvious imo folks, that as long as "billions of dollars" worth of paper, called gold, but backed by no gold, can be shorted on paper exchanges to smash and control the gold price that the gold price will be going nowhere.
It is getting beyond belief that gold miners, that operate in the real world, with real world costs, are prepared to accept this fantasy paper price when selling physical gold.
For example, NCM produces about 2 million ounces of gold a year. What is NCM doing to get a better price for the gold it sells than a price created by sales of paper? On my understanding, absolutely NOTHING.
Maybe its time for investors in gold mining companies to demand companies seek alternative ways of selling their gold so they are NOT reliant on a price set by sales of paper.
It's time for gold miners to speak up, look after their business models and their share holders, and at a time of record physical demand for gold insist on being price makers NOT price takers of a price set by sales of paper.
