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Pastimes : Ask Mohan about the Market
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To: Mike M2 who wrote (8828)11/21/1997 10:17:00 AM
From: Tommaso  Read Replies (1) of 18056
 
Well, you are talking to someone (me) whose safe deposit box is about half full of gold and who has owned gold depository and mining stocks for ten or fifteen years. So I am ready in case Japan starts buying gold.

I am inclined to think, though, that they are likely to hold onto a lot of their U.S. bonds. For the last ten years the U.S. has been extremely disciplined in managing the money supply. Also, a stong military position tends to make currency acceptable elsewhere.

But I will be watching very carefully to see what happens before I make any further investments in precious metals. Though to tell the truth I did just buy some more PAASF, Pan American Silver. They just acquired the mining rights to Russia's largest silver mine--with enormous high-quality reserves. Silver is even more depressed than gold and has more commercial uses. A rise in gold also would help silver.

Mainly I am a believer in the approaching bear market in US stocks.
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