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Gold/Mining/Energy : Gold & Gold Stock Analysis
GLD 368.80+0.2%Nov 3 4:00 PM EST
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To: carranza2 who wrote (25046)8/2/2011 4:25:44 PM
From: GST1 Recommendation   of 29622
 
Grand bargains are not written on paper -- recycling is a time-honored way of balancing gigantic imbalances in trade and investment. The same applied to OPEC in its heyday. The grand bargain with Asian Tigers was to allow them to run enormous current account surpluses and recycle the dollars into treasuries. This was backed by a huge push to pursuade all those stakeholders involved that gold was a relic unfit for holding in a mordern economy -- a relic that smart western economies were eager to shed. That It was the model for trade with Japan, Korea and now China. You will still hear that sort of hubris from some of the players today -- although it makes them sound like empty apologists for a bankrupt concept of central banking with only fiat currency as reserves. This is the sun that is setting in the east.
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