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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 75.59

-0.6%

Jan 5 3:59 PM EST

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To: RetiredNow who wrote (59656)	6/6/2002 2:53:37 PM
From: Eric	of 77400

OT Mindmeld We really have to go back in history to see that gold was the medium of financial exchange since no country used paper money until probably within the last 150 years on any significant scale. As the world's economies grew it became obvious that gold could not collateralize all of the world's economies monies. There is just not enough of the stuff. It's interesting that a lot of countries use the U.S. Dollar as their de facto currency. The total float out there in U.S. dollars is pretty impressive! Sure goes to show you how much it is valued in the world. If America fails due to mismanagement then the dollar could collapse but we are a long, long ways from that. The third world has historically used gold for transactions and that will continue into the future but with the world's economy moving further towards the dollar as a currency exchange medium gold will continue to loose it's luster. The Euro has a chance to gain some ground but since it's stuck with the economies of 18 different countries it probably will have to be around quite awhile before it has an impact similar to the dollar on the world stage. When I look at gold demand it seems to be pretty much used in some Asian economies and in India in particular. I guess the big question is could gold go to $1000 an ounce. It's very possible but not likely in the near future. I see so much capacity for production out there as the price rises that pressure will be put on the downside rather quickly as the world settles in and adjusts to the terrorist situation. After all we have to keep a handle on fear and greed! I agree with your points. Bambs raises some points for thought but those have been observed for many, many years. Gold has had a very good run in this scary terrorist environment. There will be little sell off due to the boomers retiring. I've been retired for almost 20 years and have remained pretty much fully invested the entire time. I absolutely hate fixed income investments but still realize that they should be a small portion of ones assets. I guess the big point we must make going into retirement is the need to be diversified. I still believe firmly that the best environment for our future is growth in the worlds economies and an increasing standard of living for all of us. Especially the third world. The worlds economies are becoming more and more linked. It's to every ones advantage to work together and I'm finally starting to see that occur on a worldwide level regarding fiscal policy. Nobody wants to see the boat get rocked too much. There is just too much at stake for everyone. JMHO

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