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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: long-gone who wrote (36256)	7/1/1999 6:05:00 PM
From: Hawkmoon	Read Replies (6) of 116759

Just wondering, do you hate all metals and their producers or just gold & the gold miners? Richard, you're always "just wondering" about me. Do I hate copper miners just because I think Fiber Optic bandwidth will ultimately make twisted pair copper absolutely obsolete?? Then why should I hate gold miners just because the metal is finding itself out without a proper role in the global financial system since we left the gold standard?? There is something known as "overstaying the party". Gold had a great run for years when OPEC artificially "weakened" the US dollar when they hiked prices for energy by thousands of percent. That hike set the stage for OPEC's undoing, just as an artificially high gold price has created the circumstances where the precious metals bubble has collapsed. And another thing that everyone seems to forget here. Those who have watched Harry Dent (he was on CNBC this morning) realize that the baby boomers are reaching the height of their earning power right now. The economy grows more quickly than before because this demographic anomaly facilitates, if not demands, that it occur. So what is amazing is that with the US demographic picture at a unprecedented economic level, commodities prices are still near multi-decade lows. Thank the baby boomers, Richard. If they were not present, I have little doubt that the world economy would be in the depths of depression right now. Btw, an example of the power of baby boomer economics was the housing boom of the late '70s and throughout the '80s. How many houses were built or resold at astronomic prices because the sudden demand created by the boomers demanded it?? And what happened afterward has been called a depression in the real estate markets as that demand was met and exceeded by people who didn't understand the demographics issues that create a major impact on our economy. It was good to see Harry Dent making the rounds again. He analyzed the Japanese baby boomer economic impact very well. The Japanese boomers went through what we're currently going through back in the '80s and then their bubble popped in the '90s as people lost confidence and began hunkering down for their retirement. And they continue to do so to this day. Dent has compared the baby boomers economic impact to a pig traveling down the belly of a snake. You just can't ignore their economic impact (but I'm sure you'll discover a way... :0). Regards, Ron

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