Mar 11, 2014

Gold Companies: China Should Buy Them

Why does`t a country like China with trillions in reserves, given how inexpensive the major gold companies are, I mean, they are trading at such discounts to their book value, China can buy every gold miner in the world for just a few billion dollars. They can buy all the gold mines and then they would own all the gold on the ground. They could 100 percent of their production to their own vaults.

Why don`t they buy Barrick Gold (ABX), Goldcorp (GG), Newmont Mining (NEM), just buy them all?

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Blog Archive