Re: COMEX could bust soon
in response to
by
posted on
Dec 08, 2008 11:28AM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
It seems to me that the additional yearly supply of gold is a miniscule rivulet as opposed to the huge sunamis of money being created.
Past US administrations have as much as admitted to controlling the price of gold to protect the value of the dollar despite huge amounts of new dollars being created. I believe it was during the Reagan administration that a special team to do just that was created and it has existed ever since.
The other day I saw Jeff Rubin, the chief economist of CIBC world markets on BNN. He was clear about the fact that in his view, gold was going much higher and the US$ lower in 2009. He ascribed this mostly to the huge amounts of new dollars being created and being "monetized" over the next year or so. I think he knows what he's talking about and this view is supported by many other very knowledgable economists.