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Politics : Welcome to Slider's Dugout

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From: SliderOnTheBlack	7/21/2005 8:38:02 AM
	Read Replies (3) of 50661

Ripples on Golden Pond....... 2% for now, but ripples build on golden pond. ,,,explains recent extreme Gold Commercial Short position as a Re-Peg at $440 POG would create a much unwanted market message. Could not afford a headline to read: "Gold hits New Highs, as China Re-Pegs" Ultimate interesting implications/ripple effect for US Treasury purchases & TIC. We needed a "catalyst" for Gold/Goldstocks here. Ripples are all that is needed when Spec's are overloaded Long the US Dollar here & Commercials overloaded Short Gold. China is to be expected to move the Re-Peg in a series of small steps - which is the way it should and must be done - to maintain stability in the markets. ...Anti China Political Rhetoric in the US from Sen. Schumer et al will not subside and may actually increase on what will be 'interpreted' - as this 2% move being an insult with virtually no ultimate market effect. There had better be (and there ultimately will be) another series of moves post Jintao's September Visit with Bush. The US will never get the desired 40%, but 10% in a series of moves seems to be a reasonable expectation. For now, ripples on golden pond are most welcome sight.

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