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Gold/Mining/Energy : Gold Price Monitor
GDXJ 117.61+3.0%Dec 19 4:00 PM EST
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To: Bobby Yellin who wrote (3392)11/22/1997 2:19:00 PM
From: Mark Bartlett  Read Replies (1) of 116815
 
Bobby,

<,If the average American now started buying gold shares for their retirement funds...I think we would have a major reversal overnight..>>

I agree with your statement - although I would suggest that it could be made more international if you said " the average person" rather than the "average American" .... the internet is a global community <g>.

I think that you are saying something else important here too. I still firmly believe the price of gold is being manipulated to keep dollars from going in gold's direction. The gold market is so small, it takes _very little capital inflow to get it moving big time. If just 5% of what is invested in equities today, was switched into gold, it's price would rise dramatically - possibly causing a run out of equities and to some extent into gold. As long as gold is around, there is always that threat. And when it starts seriously compete with the US dollar for the spotlight, there would likely be a run on US treasuries to some degree - how much, who knows - but IMO it would not take that much to set the dominos following.

Maybe I am naive - but I do not see a "free market" anymore. I see one that is being internally manipulated, with perhaps good intentions - but with a very uncertain future.

All the best,

MB

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