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Gold/Mining/Energy : Gold Price Monitor

GDXJ 90.47

+0.5%

Nov 6 4:00 PM EST

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To: PaulM who wrote (3778)	12/3/1997 5:01:00 PM
From: Gary	Read Replies (4) of 116752

A few quotes from the P.E.I. October 1997 news letter : "The winds of change are suptle yet continual. Kohl is using Tony Blair's career and personal desires to be head of Europe and maybe it's first president to entice the U.K. into EMU. After all , Tony cannot become head of the E C in 1998 if Britain is not in EMU. These revelations are already starting to move and shake capital.The British economy is in serious danger of imploding . The U.K. had attracted vast amounts of capital from the continent and around the world. Over 2000 head ofices moved tothe U.K. as a hedge against the uncertainty of the EMU. If Tony puts the U.K. into the EMU capital will flee. In 1792 the colony's of the U.S. were not regulated by federal law and they all set thier own interest rates which resulted in total chaos. This was changed to what we see today in the U.S.. With one currancy in Europe all member will set thier own rates!! This is the very uncertainty over the EMU that is driving the U.S. dollar higher. The first casualty was Asia who couldn't keep thier valuation tied with the U.S.dollar. But the dollar is being driven higher by a flight of international capital while Asia has been experiencing a net outflow combined with an economic depression in Japan. P.E.I. as of Oct. forcast a possible reversal in the price of gold in Apr. 1998 or June / July 1998. The latter would be a stonger signal going to a high in 2003 of $875.00.

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