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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: TobagoJack who wrote (29647)3/14/2003 3:43:24 AM
From: Maurice Winn  Read Replies (1) of 74559
 
<Nestor Kirchner, seeking to become president of Argentina, will try to return the country to a monetary system where the peso is backed by gold reserves, the Buenos Aires Herald said, citing Kirchner's economics adviser. >

Hi Jay. Everyone wants to be a comedian. We have GSM overtaking CDMA thanks to AT&T, the Iraqi generals secretly surrendering and now the crazy Argentinian Aztecs trying to resurrect the dark ages.

How on earth do they suppose they can afford to buy the gold with which to have reserves for a new currency? They'll have to allocate a large part of their national output to buying gold, which is really stupid. Starving people shouldn't waste time digging gold. They should dig gardens. I suppose Aztecs find such ideas too complex. They should back their currency with potatoes or wheat or cattle or something if they don't want to do the sensible thing and swap cattle for US$ with which they could buy cdma2000 cyberphones and the other stuff they want.

On the other hand, gold is getting so cheap that it might soon be suitable as an Argentinian reserve currency. $333 today [half of 666, the mark of the beast]. Meanwhile, 10xQCOM = $377. I guess your QCOM is nicely see-sawing against your GOLD, so it's no big loss. Then again, I recall you were light on QCOM and heavy on GOLD. Ooops.

But there's always tomorrow. I just like to enjoy the sunny days and make hay while the sun shines.

Mqurice
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