In any case I think it is good and healthy that we have this discussion, in all its aspects.
Edit (12:08) A great 'last word' on the subject from an NFTRH subscriber:
Gary, I work for a national environmental organization and so spend a lot of time tracking HR 699 and related legislation. Frankly, something has to be done to reform current mining law because it's left - and continues to leave - a legacy of toxic devastation across the West, including in my own home state of New Mexico. But, as an economic realist and investor, I agree with you that this one goes too far. Fear not. While this bill will likely pass the House, largely intact, as it did last year, it's chances of passing the Senate are about as good as Bernie Madoff winning the Nobel Peace Prize. Harry Reid runs the show in the Senate, and his commitment to industrial-scale mining is no secret. Nothing that threatens Nevada-based mining will survive in this bill. There will be change around the edges, especially relating to scatter-shot patenting. Not that you shouldn't be mobilizing your troops. That's democracy at its best. Just letting you know what the reality is on Capitol Hill.
|gimme a break, gary. They couldn't even push thru the 8% royalty rule last year, how the hell is this law ever going to pass? I mean...seriously. This is Jxx Sxxxxxxx 'scare the sheep' fodder, not NFTRH material. |
I am not advocating getting scared. I am just advocating the realization that mining has inherent risks and gold stocks are not gold. I didn't think I had a tin foil hat on there dood. Maybe aluminum though.
Some subscribers may have already seen the Mining Journal article on a proposed legislation that would basically end mining as we know it in the US, if passed. If nothing else, this highlights the potential risks that owning mining firms in any country carry.