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Gold/Mining/Energy : Gold Price Monitor

GDXJ 90.35

+0.4%

Nov 6 4:00 PM EST

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To: goldsnow who wrote (4642)	12/22/1997 8:31:00 PM
From: PaulM	Read Replies (3) of 116753

Goldnow that's the essence of it. That's why I don't care wether gold goes up or down in the short run. The lower it goes, the more opportunity to accumulate. I'm 100% convinced that that--whether we are headed for deflation, inflation, hyper-inflation, recession, whatever--people will soon be looking for ASSETS THAT DON'T DEPEND ON SOMEONE ELSE'S PROMISE. Just yesterday Moody's downgraded the sovereing debt of S. Korea to junk status. Given that the value S. Korean stocks, S. Korean bonds and the S. Korean won are all directly or indirectly a function of S. Korea's credit worthiness, where do S. Korean's put their life savings? Real estate you can live in, but its not very liquid. Consumer good are worth less the moment you buy them. Food and other perishables--well--perish......quite the dilemma It's at times like these that people who don't understand "what gold is for" learn quickly. Gold "no longer a store of value?" Well, the only way to test that hypethesis is to watch lots of people looking for a store of value. We haven't seen that for 15 years. Soon, we will.

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