Now does anyone really believe that the store of gold in vaults is worth over 2% of all tangible assets everywhere? Seriously?
I know the gold bugs will hate this idea – because it harks back to the argument against gold – which is that it has no intrinsic value.
Kill the heretic, kill the heretic!
Me? I\’m in the mining business (ish….very much ish, ish). He\’s right.