Yes indeed, for now the Clinton$ seems to be better than gold. The price of gold has been manipulated to convince goldbugs that gold is "dead". The latest ploy seems to be to make the POG firm or weak according as the equity market is strong or weak (i.e., gold is just an ordinary commodity). But for how long? Or rather, how much longer? That remains to be seen.
When I mentioned Euro bonds, I was referring to the Euro bonds of the future European Union (after 1st January 1999). For now, it appears that the union will go ahead. But then again, it may be postponed at the last minute. But if it goes ahead, I foresee concerted efforts to make the Euro 'papers' ($ & bonds) strong, otherwise the European Union will rapidly unravel. If and when the European Union happens, then some money from N. America and Asia will be invested in Euro 'papers'. Then, in an attempt to attract money to our shores, interest rates will have to be raised and this will have negative implications.
So until then, money will not be heading across the Atlantic. But don't forget that 01/01/1999 will be upon us in the "twinkle" of an eye! |
