You can't "mine" paper..............................from Rico

Bankers are NOT miners, thus they may almost be forgiven for not understanding that one cannot "mine" paper...only physical.

When it costs more to produce Gold than the marginal cost to mine it, mining companies will stop producing and put their mines on maintenance.

- Zero ounces of Gold will then be produced, no matter how much unbacked paper Gold is printed.

Physical demand will remain unabated when physical production goes offline. Gold will then command 'fair value' and neither the FED nor the paper ETF's will be able to 'suppress' prices then.

- The jig is almost up.