"Mining companies are the only industry on earth that systematically converts the very asset
their investors bought them for into the currency that asset is meant to hedge against. Since 1971, the US dollar has lost~98% against gold. The Corporate Gold Standard: practice what you preach.
We propose miners retain 5–10% of output as bullion on the balance sheet – the same allocation the industry has long recommended to its own investors." Is it the companies, or the money (i.e. banks etc.) that were behind this? Hopefully in this environment, this change will happen going forward.
I like the Title!
"Mining companies are the only industry on earth that systematically converts the very asset
their investors bought them for into the currency that asset is meant to hedge against. Since 1971, the US dollar has lost~98% against gold. The Corporate Gold Standard: practice what you preach.
We propose miners retain 5–10% of output as bullion on the balance sheet – the same allocation the industry has long recommended to its own investors." Is it the companies, or the money (i.e. banks etc.) that were behind this? Hopefully in this environment, this change will happen going forward.
Wow, sure is a lot there, just glance through the section on India to whet your appetite....thanks Vince!
Wow! This was a great report. Took a while to read it, but damn well written and insightful. Thanks for posting this.