Gold last reported is $1279.30 up $4.70 and silver is holding steady at $19.45
It costs 75% of the world’s gold mines $1200.00 to produce 1 oz of gold. According to Coeur Mining Inc. a top producer of silver the cost to mine silver is $20.00 an ounce.
Profits at today’s current spot prices are minimal on gold and are producing negative cash flow in silver for these companies. Mines like any other businesses in the world operate on profits not sustained losses.
The Fed and it’s bullion bankers understand that if they can work the numbers to keep mining profits at a minimum mines will remain open. If mining operations begin shutting down waiting for better profits a shortage in these metals would appear over a 6 month period causing a stampede due to unavailability.
This scenario would be a worse case situation for bullion banks and central bankers because prices would jump and the freebie prices of today would be no more. This means even they would not be able to buy gold and silver at basement prices.
Whether we want it or not wars are coming and nations will continue challenging Washington and the mighty U.S. dollar. Our system of fraudulent measures designed to steal wealth on a global scale is coming to an end.
The Federal Reserve still holds truckloads of playing cards and our economic demise may very well go on for years. The notion that one day soon everything will collapse may be plausible but it’s not for certain. Nonetheless to ignore economic reality and expose our wealth to rigged markets and a faltering dollar is inexcusable. If the story sounds to good to be true it probably is.
The Fed can continue to short gold futures as long as they control market prices but they cannot sustain the dollar forever. When the dollar falls gold and silver will become unaffordable by most people worldwide. Over 65% of Americans already can’t afford the metals at today’s give-away prices.
Gold Goliath is not your typical gold dealer.