Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: BigBull who wrote (75236)	10/1/2000 4:41:17 PM
From: diana g	Read Replies (1) of 95453

<<<Off Topic>>> Gold again Hi BigBull, I should have said-- "We'll Not see gold at An Inflation Adjusted $500 again ever." But qualifiers take away from the impact of such a grandiose statement, don't ya think? <g> It seems to me that your very well-put argument supporting the idea that the US dollar must decline is not really an adequate base for the assertion that gold must rise substantially. Of course I agree that the $US price of gold would rise somewhat as the dollar declined, but surely one must believe more than this to think gold would be the best way to play the declining $US? btw, I can see sense in some precious/semiprecious metal investments. Silver has many practical uses and might be worth looking into, as might other PMs. It's gold I'm speaking about when I say that a substantial rise in its price is not a good bet, imho. There are vaults full of it. Mining continues. Nobody's burning it or eating it or using it in any significant amount relative to its supply. Will central banks turn again to backing their currencies with gold? Who believes that? Then where is the huge demand for gold going to come from? No, gold's not going to surge up and reclaim its old place as a universal currency. Without that status as the universally recognized backing of national currencies; without buying by central banks to back their currencies-- where is the demand for gold coming from? Why does it have value? Gold's value is as ephemeral as any unbacked paper currency. It's not useful. It's not needed. It's not valuable in a real way; --that is, Not valuable in a useful way. I repeat though, that other PMs might well be worth a look. All just the very humble opinion of this simple grrl. btw, Slider, I just saw your posts to me and will read them and respond later. I'm going to give the dogs a bath now. I need to do that before it gets cooler outside. regards, diana

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