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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.67

+5.0%

Nov 10 4:00 PM EST

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To: Alex who wrote (99024)	1/24/2009 9:01:23 PM
From: Lee Lichterman III	1 Recommendation Read Replies (1) of 116753

You have to be careful with generalizations like that. The first country I see on that list is China and I have read from numerous sources that they are a debtor nation, not a creditor nation. They have a positive trade surplus with the USA but were in heavy debt to resource countries like Australia and the various oil producers. They sold trinkets to the world but bought vast amounts of energy, raw ore, coal etc. Debtor and creditor are relative terms and it all depends on in what context we are talking. Trade, account balance, budget. I gave up trying to figure out over all if anyone is truly in the black or if everyone is just trading worthless pieces of IOUs printed on TP and worth nothing. Also, many of those listed as creditors are oil producing nations that have serious internal problems and one has to wonder how, with oil down 70% from its peak if they will stay creditors or become debtors as well. Russia was struggling until the oil and gas boom, Venezuela? Need I say more? -g- Most of those in the black I wouldn't invest in due to political instability and/or lack of openness and truly free markets. Nigeria, Iran etc Good Luck, Lee

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