Ron,

In the days long ago when I more respected JP and regularly called in Q-line questions, I asked him what would happen to gold mining equitiy prices if the Fed raised interest rates as Volker did in the 80's.

Puplava answered this year as he answered three years ago when I essentially asked the same question:

He said that it's "INFLATION" that drives the gold price, NOT interest rates. And, that the gold stocks, as they did following the January 1980 blow-off peak, maintained their high prices for many years even as the bullion price declined.

Incidentally, Rod McEwen of US Gold, echoed that same observation and prediction in an FSN interview with JP this year.

Listen to Gold Seek Radio next weekend, as I asked Chris and Bob the same question.

Baires