jamwolf, I'm not sure why you are posting broad sweeping & unfounded statements. If gold breaks $1250 & stays below that then you may be right, however MYG would still be bankable at current levels or around $1250 USD gold. If gold does go below $1250 & stays there then you are right it will make it difficult to finance projects, however that is why I don't think the gold price can be sustained at those levels or even where it is now as if production is curtailed then supply tightens & the price goes up. The appetite for gold is growing rapidly from the developing world or BRICs which has around 2/3rds the world's population. The US, Europe & Japan are pretty much insolvent & it s the West that is selling gold & the developing world that is buying. This is a good example of the transfer of wealth from the 'West' to the 'East' as you will find & that's certainly good enough for me to back gold & great little projects like this one.
MYG Price at posting:
4.9¢ Sentiment: Hold Disclosure: Held
