That's NEED to know history info for any gold investor. Great winner in depression years I tell always was Homestake Mining. Last time as McEwen tells Dow and POG were at 2/1 was at that time. Then FDR SHUT down all gold mining in '42. The Federal Govt hates gold as it shows them up as fake forgers forever.
Homestake Mine, S Dakota
Record Profits on the Eve of World War II
"The mining company enjoyed the lucrative years of gold mining’s heyday during the first half of the 20th century. The company prospered during this period, sending its miners deeper and deeper into the Homestake mine, where they located sizable deposits of gold enveloped in tons of ore. In 1935, the company recovered enough gold to register $11.39 million in net income, a record that would stand for nearly 40 years. One year before Homestake mine established its net income benchmark, the price of gold, set by the U.S. Treasury Department at a fixed amount per ounce, was raised from $20.67 an ounce to $35 an ounce, welcome news for gold producers like Home-stake Mining. The price of gold, however, would remain at that price for roughly the next 40 years, fixed and unchanged as gold production costs rose.
As the years passed and production costs increased, the gap separating the cost to produce gold and the fixed price established by the government narrowed, coming inexorably together and threatening to make the country’s largest gold mine a profitless hole in the ground. Homestake Mining’s inability to increase or at least maintain its profit margin was a growing concern as the company entered the 1940s and the United States entered World War II.
"1929–1949: Bear market. The stock market crash of 1929 precedes the Great Depression. The Dow plunges to 41.22 (theoretical intra-day low of 40.56) on July 8, 1932, thus"
So was Dow $41.22 and POG $20.67 one point. But in '98 was 1/1! In really bad times be in gold but the long knives come out as times improve. 8
