Ed Steer Writes:
If you took the time to read the King World News interview with Agnico Eagle CEO Sean Boyd, you'll note that right up front he admits that the price of gold is being actively "managed". He, along with every other precious metal miner on Planet Earth knows exactly the same thing---and quite a large number of them have admitted to in private---and it's nice to see Sean state the obvious.
But will he or any other precious metal mining company do anything about it? No, they won't do a thing. But what about their fiduciary responsibility to their stockholders you might ask---and rightfully so. As I've said countless times over the years---the miners don't give a flying #%&$ about their shareholders---and that would be all of us. And as I've also said, when gold and silver prices finally do rise to some sort of free-market price, or as high as I think that JPMorgan et al will allow them to rise, I'll be selling every one of my precious metal stocks---and I'll never own one again as long as I live.