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Strategies & Market Trends : Waiting for the big Kahuna
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To: William H Huebl who wrote (7295)10/25/1997 11:27:00 AM
From: tekgk  Read Replies (1) of 94695
 
The weakness in gold is interesting. Everyone sold because the Swiss were supposedly going to sell 1,400 tons (or so). The press made a big deal about it. The interesting thing was that it was just some finance committees idea. The idea was immediately rejected by the government and won't even come up for a vote. The only thing that will come up for a vote is 400 tones to cover holocaust victims costs. The vote will be in 1999 and the selling won't start until 2000 and will not end until 2010. I hold a very small gold position at all times as insurance (derivatives melt downs etc.). I am always very happy when I am losing money in gold, because it generally means that I making more money elsewhere. I dread the day when I start making money from gold and so should most people. The financial and social implications are very scary. To me it's like house insurance - I don't look forward to my house burning down so I can collect the insurance.
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