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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: energyplay who wrote (21747)	4/21/2003 12:44:47 PM
From: Tommaso	Read Replies (1) of 206158

Another note on Canadian energy trusts. The US is currently running a current account deficit equal to nearly five percent of our GNP. Canada is simultaneously running a surplus of 3-4% of GNP.[CORRECTION: closer to 2% right now]. At some point this horrendous imbalance will result in a large decline of the US dollar against the Canadian dollar (and against most other currencies as well). This means automatic inflation of the price of anything imported--and the one thing we are most addicted to importing is energy. I am almost as confident that these Canadian energy trusts are a sure road to increased wealth as I was confident in 1999 that ownership of Internet and tech stocks was a road to poverty. I will continually reexamine the situation and the individual stocks and try to see what the truth is rather than what I want the truth to be. But the idea of getting up to 20% (or more!) return just hits me in the face. I also think that interest rates will be going up, and therefore bond investments are very risky, though I continue to hold a big position in mid-term Australian bonds via the FAX closed-end fund because of the high return and the possible appreciation of the Aussie dollar.

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