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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM
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To: SnakeInATuxedo who wrote (3306)12/4/1997 2:19:00 PM
From: Bruce McGaughey  Read Replies (3) of 11603
 
The Great Paper Asset Mania of the Twentieth Century

Wonderful term, Lawrence.
All we need is for someone to default on a loan/bond issue
and the whole financial structure of the western world goes
down the tubes.
As these central banks divest themselves of their gold stores,
they're getting paper in return.
Mostly, U.S. paper.
...then, what ???

Who's buying all this gold, anyway ???
Does anyone know ???
India ??, China ?? Middle East ??
At some point, gold will come back and come back STRONG.
But, what will it take?? A big devaluation in the dollar ??

I looked back at a longer term gold chart and saw where
gold moves in 3-year cycles.
'87, '90, '93, '96. Is the next spike in '99 ???
Silver looks strong and always leads gold so maybe this time
the worm will turn in '98.
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