IMHO, where you 'stuffed up' was that you used traditional LOGIC to assess the ramifications for the gold price in the light of the humungous bail out....You haven't been alone in that regard....LOL
Markets have acted illogically for quite some time, especially when it comes to the gold price - I think the popular term is 'counter intuitive'. In fact all markets have been rorted by the BIG Banks and the Hedge Funds, aided and abetted by BIG Government and so called regulators. How else could the current mess have eventuated?
The gold price has been strenuously managed for quite some time, and now it is controlled more tightly than ever. For the bailout plan to have any hope of being acceptable/successful, the gold price must be suppressed and mustn't be allowed to attract attention. At least not until things settle down.
However, there will come a time though where the squandering of official gold reserves to suppress the price will not be sustainable, with the natural laws of supply and demand then requiring a much higher price. I don't believe that such a scenario is too far off, and when it eventually materialises, IGR should do exceedingly well.
Short term though, expect the unexpected. Institutions in a dash for cash can cause untold havoc as we have seen.
Re: Renaissance
Maybe a few investors might be interested in joining together to try and secure a reasonable parcel of the Renaissance holding in one hit. I intend following up on this matter with IGR management early next week.
If per chance anyone is interested in participating, feel free to send me an email and I will keep you posted on any developments.
