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Gold/Mining/Energy : Gold Price Monitor

GDXJ 114.64

+1.2%

Dec 17 4:00 PM EST

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To: CIMA who wrote (92608)	1/10/2003 3:47:01 PM
From: Bill Jackson	Read Replies (1) of 116815

CIMA, Well, we will see quite a change in exchange rates as China accumulates all the worlds gold(for that is what they will do). And so gold will go up in US$ terms and the chinese renminbi will get a lot more valuable. In time rich chinese will come here and look at the quaint natives in their funny looking houses and will be amazed that they work all week for $1000, which would only pay the Chinese worker for 1 day, and lament that these Americans will take away chinese jobs. Well, we will see a gradual effect over the next 100 years as all the gold goes to china and the US$ will fall compared to China's currency, however what happens when the chinese worker loses his work ethic, as US workers have done and the chinese workers get gredy. Bill

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