Nothing is going to change the current market conditions accept some new laws. The spread between gold and the juniors is stll building. At some point in the future there will a realization that speculation is required. You have huge shorts at work and funding starvation. Retail has been burnt to the ground. The new deposits are more expensive to get at and supplies are dwindling. On top of this you have GS and JPM suppressing the price of gold and silver. Then there is the bank who just got caught laundering money and soon more. Seems some banks went into the drug trade with the knowledge of their government. Talk about anything for a buck. (So the Equedia writer was right!) Now toss in the lack of fund participation and you have what we have now. Dry earth to sow seeds in. This is an old pattern with a few new wrinkles and it's lasting longer than anyone imagined. It will continue because of what our governments are doing.

It's hard for a government to bust their own hench men. But, they are made up of both good and evil. Next month some good will be done to GS. They will be getting a wrench in the gears. Hmmmm, just in time for the pre-election hype. (The artificial euphoric rise I wrote about a couple of months ago.) This should take some of the breaks off the price of gold and as gold goes, so does copper in today's markets. We may start to see some value for our 10 million ounces. I do not think we will see Jrs swimming in money. Money is free right now and you still don't see it at work. This is because of the way the money gets into the stream. The governments thought it would trickle down by now but not a penny has. Even our 50 billion for shovel ready's did get a nickle to the street. Ya, a few people got some extra pay but you can see the real proof in the hiring stats. That money was given to business and they did nothing for it. We had enough road equipment in Prince George all lined up on the side of the road for all to see that could have built a road to china. (Sat there all winter too). We got a couple of miles of road and a fancy truck scale. So the money went into rich people's bank accounts and has not been spent.

Watch the activity build around the GLds of the world as the rational behind them becomes obvious. Hypothecated gold will not suffice. You can't claim to have gold while you kill off the producers in an attempt to constrict supply and expect that not to bite you in the ass. Paper gold will collapse but before it does they will try to spin it off. It when a paper gold calls Sprott and is told his gold is over leveraged and there's no more coming that it hits the fan. Now these guys are not stupid. They invented the thing after all. So this is where I expect things to start changing.

So where does this leave us? Premium spreads reflect the artificial lows so that's not a surprise to any of us. Demand will drive a buyer and all we have to do is be reasonable. The post about us being reasonable and working with our customers was on the money. This is a scewed hostile market but we have a job. Having a good employer is priceless. Having 20 cent copper is also nice. If you eq all of our materials it's 14 billion pounds. On top of that we are selling a district. At retail prices it's a staggering amount. But even if we find another 7-10 million ounces of gold our price will barely move. Why is that?

It's because there's no retail left. All we have is the pros circulating shares to make a volume trap. I wrote about this before. However, it's a ghost in the machine today. The automaton circles aimelessly because there's no one to steal from. It is intersting to see the operation bare bones, not obscured by the trades of humans, which the machine scalps. Our volume means nothing. Thgis leads me to believe that Mira and the FS will do nothing real. The impacts will be small because the machines don't feel. They don't care that the FS means the clock is starting. It will take human intervention ie turning off the switch before there will be any rise. Even then I would expect a small increase, no bullet ride to the moon. Unless the entire market changes over night we will not see real money until the final hour when Teck buys in or when a new buyer takes us out.