Stillwater just did. (platinum) Several operations, both gold and platinum, in S.A. have. Norilsk is cutting back. A lot of the global players, especially ones with gold credits, are already cutting back. I've watched marginal operations such as YNG go under.

Things are just too irrational right now. I don't believe that the USD can stay where it is for long. There's nothing in the U.S. to inspire faith, other than the short term concern if you live in a place where the economy seems even less stable. When people finally lose faith in the USD, they will have run out of safe havens. EVERYONE will be hurting, including those who have gone to cash. Then things will get interesting.

If we have shifted to a USD carry trade, what then? People from other nations borrow a lot of the artificial dollars being created by Helicopter Ben and crew at rock bottom interest rates. The U.S. stagnates despite all of these market stimulus plans, just like Japan did in the 90's. I believe the U.S. Dollar still inflates, because of repatriated dollars going back to a stagnant economy, and other nations benefit because what they owe back to the U.S. becomes devalued. I still haven't figured out the rest. Maybe a call in question.

I don't blame JP. What's the point? He actually did see almost all of this coming. If he had known he would be better in cash, I'm sure he would have stayed there.

Reading a lot of mainstream market sentiment over at Yahoo makes me realize that the general public investor still has no real faith in gold. It hurts to say that. What it will take is a couple more quarters of losses and no other profitable options. Especially not USD.