Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

"Any comments from the Goldbugs?"
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Sherlock...

Perhaps I qualify since I strongly expect gold to go higher over the near and intermediate terms and have a sizable percentage of my portfolio in gold stocks. I personally do not consider myself a "goldbug" in the traditional sense of the word, since I view gold only as an investment - albeit one that appears to have far greater potential than anything else I see at the moment.

"A hedge book can only be closed out once, and speculators cannot continue to buy indefinitely," Mayne concluded."

What can I say other than I think he is dead wrong in both his assumptions and his conclusions. At current rates of reduction it will still take several years at best for hedging to be even close to being eliminated and in the meantime global gold production is going down. As for his comment that "speculators cannot continue to buy indefinitely," I can only assume that he has not watched the mania in the equities markets recently.

mlsoft