Terry >I asked my Dad why I was also getting whipped as I had done nothing wrong, and was told that it was for future wrongs
I used to tell my son that it was for the times I didn't see what he did.
>Have not seen Bob Johnston say anything about this rally.
Could be like the rest of us he's also confused.
>May be time to call Division headquarters for reinforcements.
From where?
I think we have to remember, unlike the war against Saddam, the war in favor of an increase in the gold price is not very popular. Indeed, there is no political support for it.
In fact, and I think many people tend to forget this, gold suffers from an existential problem in that its former major use as a reserve currency is now deemed to be of little importance. So, why should the gold price rise? What would the dynamics behind such action be? At present, the major use for gold is jewellery, not currency speculation, and for jewellery demand to increase there has to be a good economy with rampant consumerism. What we have, in fact, is exactly the opposite.
Therefore, since there is no observable reason for POG to rise, gold investors are compelled to pin their faith on the "screwing of the shorts" hypothesis and the collapse of Morgan Stanley & Co. As far as I can see, this is tantamount to blaming all the evil in the world on the Devil and praying for his demise.
Therefore, I recommend the Power of Prayer to all those seeking an increase in the gold price.
And accordingly. in future, goldbugs will be known as "gold fundamentalists". |
