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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.59

+2.2%

Dec 26 4:00 PM EST

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To: Mark Bartlett who wrote (2907)	11/6/1997 10:12:00 PM
From: PaulM	Read Replies (2) of 116830

Hi Mark. Agreed that the stock market should plummet soon. Agreed that its market value is maintained artificially upward. Agreed that the price of gold is being depressed artificially downward. The question is: what will happen next. In the short run, (1) all indicators are that govts and central banks want maintain the dollar, and sell gold if necessary to do so (another tax, another way of raising revenues), (2) we have lots of defaults in Japan, (3) and more in the U.S. a a result (where the number of personal bankruptcies is already at depression--1929-levels), (4) and even more as a result of declining stock market (margin calls, and lots money people though they had vaporized). In other words in the short run, depression/deflation, where cash will be king. Soon gold, real estate and everything else will be at bargain basement prices. The govts response--which can only be inflationary--will then cause gold to go up. P.S. Thiss whole cycle--from start to finish--can happen in a very short time. And the 3400 was a typo--should be 34000.

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