LQD Weekly

In keeping with the theme of Wild West markets where anything goes, you can see the after-effects of a loosening of regulatory fetters so as to allow financialization to increase, rather than decrease. Derivatives would have expanded, not contracted.

The full abdication of regulatory oversight has resulted in inflation going directly into government and corporate bonds, while mining companies are obliterated.

Of course, pulling the carpet out from under the feet of investors by GBN.V management has to be said to be another contributing factor. Looking back now, it was incredibly stupid of them to continue on as if they were in the 1990's pre-Bre-X to see shareholders as if they were a source of infinte capital and all they had to do was post a hint that there was something more.

If they want to keep their secrets, and this is a part of the game, then fine, keep your damned secrets if you like, its a matter of indifference whether I obtain my return via share price appreciation or dividends.

But that would mean full production, which we haven't seen in a year.

supersize:

http://www.flickr.com/photos/11747277@N07/8441290811/sizes/l/in/photostream/

http://scharts.co/Wio3I0

-F6