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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: whitepine who wrote (88592)3/12/2001 11:02:18 PM
From: ItsAllCyclical  Read Replies (2) of 95453
 
Gold - Historically the central banks have sold gold near the bottom and hoarded it at the top. Besides anyone who bothers to read the GATA article (118 pages) and does some preliminary research will mostly likely come to the conclusion that gold has been manipulated down for a number of reasons for the last 5 years. All manipulations end badly...eventually.

If I told you 2 years ago that oil prices would go from 12 to close to $40, natural gas from $2 to $15 and the Nasdaq stock market would fall 62% would you guess gold prices would be:

300 - 400,

500 - 600,

or

600 - 800?

272 is a joke. The fact that gold is down afterhours tonight speaks VOLUMES about it's manipulation. Sure if it were up $50 in the past few days I could see some profit taking, but given these declines and the seriousness of Japan AND the global economy turning down due to the US....well it's clearly manipulation in my book.

What I don't understand though is why the gold miners don't fight back? Gata took their case to the miners of South Africa recently. Given these uncertain times they may finally feel like they have some clout. But I agree with Slider that Japan is really the key. Given that it's making new lows I'm confortable holding the yellow stuff.

It's one thing for Morgan, Goldman Sacks, the ESF and the British Treasury to hold down gold prices during an economic boom and in both equities and the world economy. Let's see how they do with both Japan AND the US going into a tailspin.

Not too many gold bulls on the other thread (myself and one other at last count).

Personally I like the idea of two threads. Nor more cat fights to wade thru. Everyone's happy.

And yes kudus to Slider for sticking to his guns for so long on both techs, oil and gold. I don't see how people can still disparage gold after all the has happened in the last 6-12 months. Far too many people are acting like this is '98, '91, or '87...This action in both the US and Japan...at the same time - is fundamentally different.

Kudlow is about to go on TV to talk about the Nasdaq hitting 10,000. Makes me PUKE. I predict buy and holding will return pathetic results over the next 5 years. Just ask the Japanesse stock holders in 1990 that were persauded by the standard BS that things will bounce back in the long run.
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