>>Long Time, no see?<<
Not quite, really. Though I had not been posting for a while, I have been a lurker.
As I am not inclined to trading in futures, options, puts and calls, the market has not been interesting to me lately.
Here's some interesting remarks from an investment guru,
"First, on October 24, was the Swiss announcement contemplating the
sale of 1400 tonnes of gold, or approximately half their reserves. The announcement was made by a committee composed of people from the country's central bank and the treasury. The sale isn't proposed to take place at all unless approved by a referendum of the Swiss people. The people on the commitee are undoubtedly typical of what you find in such positions around the world: small minded bureacrats who got jobs with the treasury instead of the Post Office mainly because they were smart enough to figure out it was more fun playing big shot with other people's money than delivering mail, but not smart enough to get a real job in business. One reason I think the sale will be voted down in referendum is what they propose to do with about 40% of the proceeds. These folks want to take roughly $5 billion and endow a foundation to distribute the money to the Third World, an idea so wacky I couldn't quite believe it when I read it."
Frankly, I think the proposed sale of the gold was to discourage investors from investing in Swiss francs. The Swiss don't want their franc to be too strong: they don't want to erode their competitive advantage.
What do you think? |
