Okay, shorts, you've heard me here before. Barrick wil outperform its peers on the correction, I said, and look at today's box scores. I also told you I'm going to short Intel, and it kinda looks a little heavy after today's announcement, eh? Learn from me...short tech tomorrow on any bounces. Shorting ABX is financial SUICIDE.
ABX longs, congrats. This is a winner. I think that gold shares will probably fall a bit more along with the general market slide, and a huge buying opportunity will present itself in a few weeks. ABX is outperforming its peers today and is a Buy, but if you're long I'd hold and if you're on the sidelines, I'd probably average in.
The Canadians and are going to teach us Americans a thing or two this year, not least of which is how to manage a currency, how to run a (relatively) honest stock market, and how to manage commodity assets. Buy ABX, BGO etc and enjoy the ride, IMO.
You missed my point. Property rights are under threat anywhere in the world where they have value to someone, but if I had to choose at having my property rights challenged in North America or in South Africa, I'd choose the former in a heartbeat. That's the distinction I was trying to make.
Very simply put, sir, you are a fool if you believe property or any other rights can be impartially protected in the present-day climate. Wake up.
If you are sufficiently paranoid as to conclude that the security of property rights in North America are no better than those of South Africa....
Oh never mind, the black UN helicopters are coming to get you anyway.
PS: That mining company in Montana has legal recourse. Did you not hear what happened to the Supreme Court of Zimbabwe?
If you are sufficiently naive as to conclude that the location of a mining company in North America confers upon it a degree of safety from totalitarian meddling, you had better think again:
Fact is, it may well turn out that for a miner to be located in South Africa will be an advantage. If you look at the market's evaluation of the situation as stated by its choice of funds allocation, the smart money is on the SA miners if the price action of ABX is any indication.
You're as wrong as wrong can be.
The Black Empowerment-oriented changes mean this sector gets FABULOUS worldwide propaganda.
And screws the radical environmentalists on the African continent.
As Sparrows - more or less alone - has been saying forever, radical environmentalists are not only the same thing as "friends of workers around the world," they are ENEMIES to working people, including miners, around the world. They are, in fact, tools of the elite, whether or not some of them know it. Which means rich kiddie college students have been unwitting tools of the elite, tools of the status quo.
Once black empowerment - or its South Asian or Latin American counterpart movements - hits mining or lumber or agribusiness or any other extraction or commodities sector, the Myth of Evil Miner or Evil Loggers or Evil Road-Builders or Evil Electicity-Bringers or whatever flies out the window.
Linking black success or Latino success or Thai or Malaysian or whatever success with sustainable resources and manufacturing industries which can compete with the developed world on its own terms is FABULOUS, FANTASTIC, JUST WHAT COMMODITIES NEEDS.
Very good post, Nebomt
I read the link
It is absolutely terrifying
Just as bad as the attack on the US on 9/11
Too bad, the US doesn't perceive it the same way, as a War on Terror
Instead, they call it Global Justrice
Killing of white farmers is perceived as a non-issue, that the justice is being finally done to the whites for all the years of apartheid
If you turn the tables, you could easiuly visualize North American Indians starting to exterminate white farmers in Iowa, using the same argument
gold will skyrocket and S A miners will collapse,
excerpt from mining web story, link provided below;
The government hopes the 'use-it-or-lose-it' law will force companies to fast-track black empowerment and explore their landholding or lose their mining and prospecting rights.
The crux of the bill is a radical change to South African law which currently allows private business to hold mineral rights. Under the new law, companies will apply for mining or prospecting licenses but the mineral rights will ultimately belong to the state. Current mineral rights holders will, however, have a year after the law is passed to convert their mineral rights to either mining or prospecting licenses.