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Gold/Mining/Energy : Gold Price Monitor

GDXJ 92.99

+2.9%

Nov 7 4:00 PM EST

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To: Zardoz who wrote (62078)	12/20/2000 1:38:42 PM
From: SliderOnTheBlack	Read Replies (1) of 116753

Hutch ? You obviously seem to be a bright fellow; but why all the continual angst here ? I'm not a regular poster here; I am at the Strictly Drilling - Oilpatch thread. I'm also not a a traditional Gold Bug in way, shape, or form; never have been and may not be again for another 10 years; but I have "just jumped on the Band Wagon - without riding the spec down from before"... and I don't feel I am guessing ? What is there to guess about ? That the US Dollar was looking "toppish" - unsusatainble given our account deficit & the stress fractures it was creating for US corportate profits let alone other foreign currencies & economies ? That the POG is trading off the US dollar; that the US Dollar looks as if its going to correct off of Fed Cuts, foreign repatriation and its own technical & fundamental unsustainability ? That Gold never needs a mass sentiment change; only a change by a very small amount of investors to make very big changes in this micro market ? Or, as I've been saying for a while - the "If not here & now - then when" factor ? Individaual Gold & Silver stocks reached 5 year, 10 year and even alltime lows in shareprices - along with the cheapest fundamental valuation metrics of price to ounces produced, or ounces in reserve ? Given we're now more obviously than ever; correcting from a vastly overvalued speculative excess broad equity market - could there ever potentially be a greater amount of $ "fleeing to safety" ? And the short position; yes it's arguable; but what is NOT arguable - is what happened in Sept 1999 - not with the next reporting quarter showing all those banks (JPM Chase Deutsche etal) ramping up their gold shorts... it's a matter of how much Gold they shorted at the behest of the ESF; not that they did. It is obvious to anyone that part of the ESF's role in stabilizing the US Markets was to maximize the attractiveness of the US Dollar for Foreign Investment and to minimize the risk of inflation... and as Gold has continually been a primary barometer for inflation and/or market risk - why wouldn't manipulating & supressing - ie: "stabilizing" the POG be Job 1 for the ESF ? - it would have to be and it was. If one accepts the premise that King Dollar was a goal of this Fed; then supressing Gold would go hand in hand...and given Rubins link to Wall Street - why would not the LongTerm Capitals of the world borrow all the damn Gold they could at 1% to 1.5% interest rates/carrying costs and leverage the proceeds long in the US Dollar/Currency Futures- if they knew the Fed/Rubins longterm policy.... hell now wonder they called it "Longterm" capital Management (VBG) ~ it should have been called the Rubin-ride fund imo.... I say once again; Gold - if not here & now; when ? - and I "aint" guessing.

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