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Strategies & Market Trends : Asia Forum

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To: James F. Hopkins who wrote (1172)	1/19/1998 7:18:00 PM
From: Thomas Haegin	Read Replies (3) of 9980

My take of the collective Gold collection is more about culture: What amazes me completely is that people join and collect gold, believing they can bail out the country! I mean would anybody of us go and donate moms and wife's jewels to bail out the U.S., trim the deficit? Or we Swiss do this for Switzerland because of the Holocaust monies? Let's face it: Before that, the Earth would need to stop spinning and the Sun must rise in the West! When Mobius was in Zurich he spoke of another amazing thing: People demonstrating in the streets of Seoul with the theme: We wanna work! Look at France: A miracle that they even hit the street, for the tune always is: We wanna stay home! (same for Germany). So IMO it is a question of culture much more than economics: I mean the kilos of gold collected will be minuscule anyway in comparison to world supply and the debts Korea faces, I would think. On the other hand this work ethics and "serving for a higher purpose theme" is the type of things that will let the SEA countries come back eventually in a big way, IMO. Thread and special envoys to the region, correct me if I see it too rosy. Thomas

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