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Gold/Mining/Energy : At a bottom now for gold?

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To: Eakole who wrote (852)	12/4/1997 9:36:00 PM
From: Eakole	Read Replies (2) of 1911

To All Concerned: I am sure that on September 29, 1929 nobody but a few traditional students of human nature and history saw the symptoms of the impending collapse that occurred throughout the world's financial structures. Inflation and Devaluation are the same as the Tweedledum and Tweedledees when it comes to Money. The results are the same. During inflation much worthless paper fills our pockets. In times of deflation we have empty pockets. In both instances POVERTY and STARVATION are an ever present reality or threats. In short, there is no difference for us. Recently several governments have devalued their currencies to become more competitive in the WORLD ECONOMY. Soon other governments upon seeing their advantages erode by those devaluations will quickly devalue their currencies in self defense. Our economic partnerships such as NAFTA and GATT and other independent agreements will then deluge us with COPYCAT devaluations and in so doing threaten our now interdependent economies. (The Federalist principles set in our Constitution has been aborted by ill concieved and unconstitutional international agreements.) I recall reading the same thing happened before and during the Great Depression of the 30's. Gold was under attack because paper was worthless. When governments devalue currencies, what is they devalued against? Today it is the Dollar and other First World Currencies because these are the mediums that the Central Banks use in their economies. Second and Third World Governments need sources of income and because Gold Bullion yields no interest they turn to debt currencies because they do. We are therefore in a stampede away from the solvency of Gold and into the Debt Currencies endowed with the promise of interest and currency to purchase products of the FIRST WORLD economies. All this would be sufficient to convince me that Gold is DEAD . . . if it werent for one missing equation . . . HUMANÿNATURE. When we give ordinary people, (and we are all ordinary), extraordinary powers and those powers are without controls, as Central Banks and Governments now enjoy, they abuse them. In doing so they tyrannize the people they have been chosen to serve. They print Paper Currency without the natural discipline demanded by physical Gold or the Constitutional controls of a lawful government. Paper currency is one tool politicians and bureaucrats use to tyrannize while exacting for their benefit unlawful and obscene emoluments. It is at this point that I ask for your assistance. I would like to document some historical parallels of the THIRTIES with the latter part NINETIES. Some subjects to look at are the price fluctuations of GOLD between 1929 and 1933. Another would be the several national paper money devaluations or inflations; another would be the rampant number of personal and corporate bankruptcies. If I remember what I read in reasonable accuracy, the similarities would be amazing. This knowledge would support us and others in moments such as we are currently experiencing. I would appreciate any ideas. Thanks. Best Wishes, Eakole

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