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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: patron_anejo_por_favor who wrote (272204)	12/29/2003 4:05:45 PM
From: Perspective	Read Replies (1) of 436258

Barfing gold insight: 3:00PM: Mostly sideways since the last update, as the major averages are vacillating near their session highs... The gold sector is among today's strongest gainers and is up 2.5%, as indicated by the XAU index... Its strength coincides with a $2.50 rise in the price of gold to $415.30/oz... Note that earlier in the session, the price of the precious metal set a new multi-year high at $416.50/oz... Gold's resilience is resulting from the weakening dollar, which has fallen to a new record low against the euro and the yen earlier in the session... While the dollar's weakness is viewed by some market participants as a concern, Briefing.com, for its part, thinks at this juncture the weaker dollar is beneficial as it boosts the dollar value of U.S. companies' overseas profits... Now, a reasonable person would think that, if a falling dollar is a boon to exporters, it would be bane to importers. Consider our country as a whole for a moment as if it were a corporation. Is it in the import or export business? I'd say we're solidly in the "net importer" camp. Therefore, a falling dollar is bad for the financial well-being of the country as a whole. If it is good for the export segment of the economy, then they are benefitting at the expense of the rest of us. How much longer can the truth behind dollar-weakness-driven inflation, service sector inflation, and real estate inflation be hidden from the public by the government claims of zero inflation? BC

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