KITCO - Gold discussion Message Board

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Gold/Mining/Energy : KITCO - Gold discussion

GLD 458.00

+1.4%

Jan 23 4:00 PM EST

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To: Robert Dirks who wrote (1)	8/29/1998 8:25:00 PM
From: C Hudson	Read Replies (1) of 989

Robert, Thanks for starting the thread on here, I'm going through withdrawal. What a time for Kitco to go down. Seems everyone is predicting much more downturn in POG. I certainly have worried as I havn't sold any of my gold shares but if the gold bull starts when the last goldbug has thrown in the towel, as some say, then that day may be here. I understand that gold broke it's support and from the technical standpoint, it doesn't look good. The world is in such a precarious place that my hope is that things could turn on a dime. My take on why gold is doing so poorly is twofold. 1) "The people of the Fiat" know that the fiat currency system is breaking down and if a flight to gold ensues, that's an admission of defeat so they'll continue to trash gold. 2) Everyone is in denial that the "Emperor has no clothes" (fiat currency) and so continue to believe that you just need to find the right currency (the US dollar right now) and that gold is no longer useful.

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