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IAMGOLD Corp. Message Board

  • pm_guru_1 pm_guru_1 Oct 24, 2013 2:14 AM Flag

    Nobody rings a bell to announce the bottom

    But Asia is BANGING A GONG! Look at China! Importing 300 tons in a MONTH?! That works out to 3600 tons a year! Hell, world mine supply ex-China is only 2200 tons! Mind you, this is ONLY reported data from Hong Kong! You don't think they import gold in Shanghai or any of the other coastal cities? Or any airlifts to Beijing? You bet your #$%$ they do. People are going to TRIP BALLS when they realize how little gold we have and HOW MUCH THEY HAVE. Don't forget India, they're still offtaking 1000s of tons despite the efforts of their IDIOT GOVERNMENT slow it down. They just make their pathetic Rupees look even worse with their manipulations.

    You're never going to convince Asians paper money is better than gold/silver, and you're never going to convince me either! China is accumulating 1000s of tons annually. They probably have more gold than USSA RIGHT NOW! Think about that. All gold shorts are lumped on the wrong side now. They ALL KNEW Uncle Sugar had their back on the way down, but now they've pushed the envelope TOO FAR.

    This whole idea that dollars will all of the sudden be buying more goods and services because of the "deflation" is nuts on its face. Have you ever went to an ATM and just drawn out $20? I don't ever, because it only lasts about 15 minutes before it's all gone. The $20 bill is the new $10, and soon to be $5. I can hardly get a decent meal at even the cheapest "restaurants" for less than $10 anymore. Cigarettes are as expensive as illegal drugs in some states. Have you looked at prices in the beer case lately? Prices may go down in the future... stocks, bonds, and probably real estate, but not for what you really want and need - food, energy, healthcare, and everything you need to buy to live.

    Just wait until the Chinese start stockpiling silver bullion like they are doing with gold. They could buy up every ounce of silver that exists in the world for

    Sentiment: Strong Buy

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    • Gold is a fool's investment.

    • 1000s of tons is shiploads of solid gold going to China-India. They prob have even more than disclosed since they want price low.

    • 300 tons per month? #$%$..are you on drugs? hahaha. the most is 110 ton per month.

      • 1 Reply to truong_lee604
      • You are apparently behind the curve on the data coming out. They were buying 200 tons this summer, most recent month is 300 tons. That's just Hong Kong numbers, the only ones that are reported. 300 tons is only $13 or 14 billion. You know, like 5 days trade surplus for them... Like going to the drive thru and getting ice cream cones for everybody in the car, that is how significant 300 tons is for China.

    • They could buy every ounce of silver that exists on the planet for less money than you or I would spend on a dinner and a movie. Silver is more useful and necessary than 99% of people realize. I am sure Chinese with all the money are part of the 1%. lol

      Hey how about Agnico-Eagle, that was a pretty superb report. Guiding up a crapload, from sub 1M ozs to more like 1,060,000 ozs for 2013. AND costs going down nearly $100/oz across the board! They're going to be just fine thank you even at $1300 gold. Iamgold produces almost as much gold as AEM, with a smaller margin yes, but with a tiny fraction of the market cap. IAG is going to lower costs and increase production in the year ahead I just feel it. When the gold price turns up, I think IAG's earnings leverage will be superior. I like AEM though. Good operators, good mgmt, good jurisdictions, decent yield.

      All the people waiting for the massive deflationary selloff that sends stocks down 20% in a week and drags down everything including gold, that's going to happen, but I think it's going to happen from an insanely high level next year - like Dow 18-20k. Gold is going to $3500 like Jim Sinclair said. He was very good on the timing of his $1650 call made in 2002 to occur by 2011. He says the gold top will occur no later than 2020. I think the Dow will fall back to current levels, after it continues to astound with its algorithm driven rise and goes even high. Gold will drop back to $2300-2400. And silver will break $50, get into triple digits, and never trade below $50 again for the rest of your life.

 
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