GOLD

[audigger53]

A Mules. One of the few things as stubborn as I am. LOL

 

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[Oroblanco]

SDCFIA have to agree in part, it is a good idea to have a reserve of silver, especially as a 'small change' money; for that matter even some copper bars (small) might come in handy in case of a financial collapse for small change, as also with 22 rimfire ammo. But for larger purchases, gold is much more compact - it would take a pile of silver to buy a good horse, or gun, but then you would hate to have to buy a loaf of bread with gold ounces too.

Also forgot to add one other thing but I have seen gold mining companies shut down when gold prices fell too low for profitable operation. I realize that some will try to keep operating on the 'float' by stockpiling the gold in hopes for higher prices, selling only what is absolutely necessary to meet payroll, but never for any great length of time either. I do not know of any gold or silver mining operation that has operated for more than a few weeks, or couple of months at most, when the metal prices fell below the break even point for their operations.

 

[Old Bookaroo]

Oroblanco:

There was a time, a number of years ago, when copper prices collapsed and foreign mines continued their output. Actually, they increased it, driving the price down even more.

The governments were desperate for dollars. They paid their miners and other expenses in local currency and sold the copper on the international market for dollars.

Not a sustainable plan, of course.

I appreciate the several thoughtful replies to my questions. Some interesting theories and possible explanations were presented.

Good luck to all,

The Old Bookaroo, CM

 

[audigger53]

Oroblanco:

There was a time, a number of years ago, when copper prices collapsed and foreign mines continued their output. Actually, they increased it, driving the price down even more.

The governments were desperate for dollars. They paid their miners and other expenses in local currency and sold the copper on the international market for dollars.

Not a sustainable plan, of course.

I appreciate the several thoughtful replies to my questions. Some interesting theories and possible explanations were presented.

Good luck to all,

The Old Bookaroo, CM

Gordon Brown accused of cover-up over gold sale - Telegraph
Here is some of the story on the dumping of gold by the Bank of England to hold the price down. Not all the story, just a little of it.