...but they do not yet control the world economy. Gold is still hitting all time highs in Japan. The worlds central banks are still printing money, in short, nothing has changed. Gold will have it's day, and so will the miners.g
I wish the miners would grow a pair and start withholding some production from the market stating that they believe the current price of gold does not reflect the fundamentals of the marketplace and until they do some of their production will be withheld from sale. GG used to do this when Rob the company. Somebody like ABX or NEM doing this now might carry some weight. Not that they'd every have the guts to do it. In some respects, many of these management teams are bigger problems for the shareholders than the shorts or banksters are..
"“It depends on how much you’re making and you’re ability to hold back…When I was running Goldcorp in 2001, we started withholding some of our production. We started off withholding 10% of our production…We [then] increased our holdings to be holding back 30% of our production. At one time we had more gold in our vaults, than 50 of the 114 Central Banks that held gold. If you believe that the price is going higher—than why wouldn’t you hold some of your gold and silver for a future date?“