John Polomny

Wellington West Studies Eight Gold Equities, Picks Two Favorites

Thats why you should hold your core gold position overseas. More likely then confiscation will be revaluation of gold by the US government.


On Jan 16 10:49 AM Econ 101 wrote:

> At what price point does gold become so expensive the government
> confiscates it? $1000? $1500? $2000??? At some point the inflation
> (hyper-inflation??) caused by the immoral bank bailouts for the wall
> street thieves will happen (between Oct 09 and Mar 10??) and gold
> will explode. The government already has the power to steal gold
> from ETFs and your house and give paper money in exchange.
>
> The only question is when?

Wellington West Studies Eight Gold Equities, Picks Two Favorites

Western Goldfields is extremely well managed and has hedged 50% of its diesel costs for this year and next. As they are operating an open pit fuel cost is 20% of overall costs. Cash flowing nicely and buying back shares. Good pick even if gold stays in a trading range.

New Trend for Emerging Gold Producers: Amalgamation

Fully agree with the gold company consolidation call you make here. Contrary to what mosy think at these gold prices quite a few god mining companies are cash flowing nicely. Buying ounces on Bay Street or Wall Street is cheaper and easier then going out drilling yourself.