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Strategies & Market Trends : Natural Resource Stocks
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To: tonka552000 who wrote (5146)12/17/2003 4:35:19 PM
From: Jim Willie CB  Read Replies (2) of 108563
 
keep watching the Shanghai Gold Exchange
it also sells silver, I believe
this development went largely unnoticed by sleepy Americans
who were busy bidding up worthless stocks like Amazon
in the great FLIGHT TO GARBAGE
the Chinese Govt has given a clear signal to the world
they know that citizens need to save
and saving in paper instruments owing to US$ are worthless

if their citizens pile into the gold monkey coins, and others,
then we have a solid indication that their govt might endorse the entire movement to gold

I think the Chinese Govt will gradually diversify from heavy USTBonds into more EuroBonds,
then into whatever debt instruments are strong versus US$
only trouble is there arent any besides the Japanese JGB's

lastly, I think the Chinese will also support the gold market EVERY STEP OF THE WAY, WITHOUT EXCEPTION, FROM HERE ON IN

many gold watchers openly wonder why gold has not corrected much at all since autumn
I BELIEVE CHINA IS SUPPORTING IT
this times nicely with trade friction heating up
supporting gold might be the ultimate FLICK OF THE US NOSE
and done so with nice plausible deniability

the big issue is domestic Chinese credit demand
and mgmt decisions by their bank officials to stem excessive credit growth

/ jim
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