Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Taikun who wrote (54403)	10/19/2004 1:51:28 AM
From: energyplay	Read Replies (2) of 74559

I saw Hathaway at about the same time. He seemed relaxed. One thing that's interesting - gold bulls no longer need to make an argument about expansion of the money supply, fiat money, etc. Hathaway did say we might get to $430 by year end. Wanting to add more physical PM to his fund may mean he sees many miners overvalued, spending lots of money to get relativly little metal. The inputs for gold mining - diesel fuel from oil, moderately skilled (and very sober) labor, big machines made of steel & skilled labor, big rubber tires (mostly from oil), energy for smelting - all are heading up strongly, except maybe labor somewhere like New Guinea.

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