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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU
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To: Gene Veinotte who wrote (1769)12/9/1997 6:45:00 PM
From: hutchi  Read Replies (2) of 4718
 
Good Afternoon Gene
I am a new shareholder with anz and I believe that the potential to make some money with anz exists.I am not very experienced in this business but I would like to rebut a quote from the well respected analyst you quoted."I think
this
>has changed. Further gold is no longer seen as a hedge against world
crisis
>or calamity. If it was it would have soared during the Asia meltdown"
I would like to ask a Jeweller in Thailand what he thinks of the price of Gold now compared to before the monetary crisis hit southeast Asia.
Since their currency has fallen by 50% compared to the American dollar
I would assume that the price of gold in these countries has approx. doubled,if I had lived there and bought actual gold I think i would be much better off today than some body who had their money in the bank.Say i bought 1 million baht worth of gold then two weeks later the currency crashes against the U.S. buck then I sell my gold and get approx. 2 million baht for it.I then would consider myself very fortunate that I had bought actual gold.
This is my humble opinion and I would appreciate any comments or counter opinions,another quick thought is that anyone with a gold mine in Thailand who pays their bills and employees in baht and sells their gold for dollars is better off now than before the Asian crisis.Please enlighten me if you think I am wrong.
In for the long term
Hutch
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