Originally posted by audiobaja
Interesting stuff. I feel expertish now
Still, a lot of the risk has to do with the environment and geology, so the risks are site specific.
But as the say, the *real* problem here is demand. With the price of gold at over $1000/ounce, it's coming out of the ground. Which means either
a), we need the economy to rebound and make buying gold seem silly and/or b) convince eco-hippy women to sell their gold and replace it with jewelry
that isn't environmentally risky.
If you recycle massive amounts of gold back into the system, you'll drop the demand and the price. Get it back to 2001 levels or even close and the
mine goes away.
Either way, as a guy who's entire collection of gold is in my super cheap wedding ring, I'm doing my part, while remaining out of the politics of it.
But if you're one of those folks with a whole bunch of jewelry and/or a portfolio with lots of gold in it, your part of the problem, not part of the
solution, no matter how many petitions you sign. And even if this mine is stopped, another will pop up somewhere else. Same reason that the
cartel problem in Mexico will exist until US either legalizes drugs or jails everyone with an appetite for it. |