silverworld11: It's kind of hard to see your point when you simply spit out insults over your last few posts.
As to gold mines shutting down: It won't affect the gold supply that much if you just think about it. Most gold is recycled and refined anyhow. A lot of "old" gold finds its way back into the market either by people who sell their gold because times are tough, or from straight up crime, though the crime is greater when the price is on a constant rise because the price jump is in the news more thus enticing criminals. Price possibly goes down because competing mines want the most business, like any business would do they cut each others' throats. Maybe one mine's supply can outlast another's therefore they drop their price, making the rest take big losses or shut down completely. It's a lot like OPEC or DeBeers.
So the people in rough times sell their gold and the supply is taken from there to the refiners People generally don't buy as much gold unless they perceive it as valuable via dollar price jump, they don't always see gold for what it is, an amazing shiny artistic metal. So the price sees very little steam unless there's a boom. For what it's worth, I could care less what the price is at I still make a living. Up, down, sideways, I don't gamble.
The world is socially better off when the gold price is stable and even. Gold is seen as a steady rock, but these days people want a fast buck, not gold; they want a dollar vehicle to ride to make them rich with the littlest input and effort. That disconnect is clear if you look at the way the world has changed very drastically since 1971. That's just my opinion.
Posted 11/13/2014 09:12 am
