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Politics : Idea Of The Day

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To: Al Serrao who wrote (14106)	11/12/1997 7:58:00 PM
From: MonsieurGonzo	Read Replies (1) of 50167

Al; RE:"Gold index..." ...especially considering that it is impossible for the Japanese to lower interest rates, AL - their only monetary policy option appears to be devaluing the Yen. I can remember when (Bullish) traders would automatically buy Gold (mining stocks) during DownTrends. It appears that US treasuries and, the Pound Sterling are the main beneficiaries of this kind of thinking in today's reality. I wonder how much of the Gold index's actions are on account of the CIS (Russia) and gold-producing countries in Africa selling surplus stocks ? Gold has become more of an industrial commodity nowadays, rather than financial specie, has it not ? The most dangerous thing that I'm seeing, Al - is that lower cost of capital is not being converted into higher equity valuations. Money is not moving. People want to buy something, you know? But everyone is Waiting for Godot or something; capital is going in to Treasuries rather than Equities. Do you have any measure of capital inflows / redemptions of mutual funds, Al ? What's the delay on these data, one month or one quarter ? -Steve

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