To:PSkars who wrote (114)
From: John Barendrecht Friday, Jun 20, 1997 4:42 PM
Respond to of 79910
The way I understand it, CB have 51 yrs supply of gold to make up shortfall in mining. But only 5 yrs supply if all mining stopped. If they all dumped their gold at once, it should be down to $5 per ounce and good investment as it does have industrial use. In the mean time all the gold mining companies would be bankrupt, hence no supply and the price should rise dramatically Do you have statistics on what percentage of mining companies are strictly gold mines and how many mine other minerals as well?
If they sell all their gold and can't meet EUC commitment, what backs their currency? Politicians? How much can you get for a 200 lb politician? (I heard you can buy some cheap.)
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