WHY AM I STILL ON ABOUT GOLD with FFGO? - When the company in which many of us are 'trapped' has moved out of the Mining business and into the Financial Sector.
This needs no explanation for most of you enlightened ones, but there are just one or two here that will jump on me (any excuse for them is OK, if there isn't one, they will make one) Don't believe me? - Just watch.
FFGO is still carrying its gold portfolio, and that is a good part of its 'assets' - probably the only part of value as yet.
We could well see what I predicted happen today - Gold will hit the $800 for the first time for about 30 years. If not today, then sometime this week. On the surface this can look exciting, and it is, because it's a psychological barrier broken.
However, when we consider how much the value of the US dollar has sunk since then, and how the world has changed, it's no big deal. For it to equal anything like the value it had when it was last at this level (30 years ago) gold would have to be well into the $1000's.
However, the way things are going, and going fast,if they emulate what happened then, eventually 'gold fever' takes over and some of these 'holes in the ground' called fanciful names like 'Gold Eagle Resources' or chose some of the names which are still on this company's books, rocketed to ridiculous heights.
I believe Lumb is well aware of this, and wants to be in a position to take advantage when the iron is hot. He can see what is coming, as it is now moving fast as the US dollar crumbles daily and appears it will continue to do so long as there are idiot un-Americans running the government. As one European said - of Bush - he's like a madman running amok with a cut throat razor
This can be done in one or two ways - here's a couple (1) sell out and find some way of cheating you out of your 'inheritance' or most of it. (2) use it as a big fat juicy carrot to pull more 'investors' in to finance his next scam operation.
The fact that the company held onto the proposed share distribution kind of forebodes the first of those options.
I have none due, so it doesn't really bother me. However, any of you with brains out there, and, say, knowledge of past actions in the 'pinkies'to come up with ideas on how he could do this and try to get away with it, share your thoughts. Better than just keep moaning the obvious. One should always balance the negative with the constructive.
We could then try to pre-empt (nice up-to-date word) his scheming, and point this concern out to him and that we will inundate the SEC, or wherever, with those concerns unless he comes clean.
