Bema(Bgo) and Arizona Star Message Board

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Gold/Mining/Energy : Bema(Bgo) and Arizona Star

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To: SP who wrote (8572)	11/25/1997 9:35:00 AM
From: the Chief	Read Replies (1) of 10482

SP, I am presently "betting" on Gold's return!!! This currency crisis is really starting to take hold. I believe it will not be long before the Asian countries start selling the US debt to bring money home, even with the support of IMF. Everybody wants to protect their turf. We are now seeing it in oil prices! OPEC does not wants to accept lower prices so is considering on upping production by 500,000 bbl/day. (Which is "deflationary"). In doing so, Venezuela who has never adhered to OPEC production rules will likely increase their production, which drives the price down further. When the Asian countries start selling the US bills, The US is going to have to raise short term interest rates to attract more buyers. This will put even more pressure on an already fearfull market. As a result, the market won't be the place to be, Treasuries won't be the place to be, so where else but Gold ? The reason gold prices are suppressed is because there is more supply than demand, right ? So what happens when everybody realizes: GIC's Treasuries are unstable and unattractive, and the market is unstable IMMHO GOLD !!!!!!! my opinion only the Chief

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