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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.88

+0.9%

4:00 PM EST

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To: Gabriela Neri who wrote (7729)	2/20/1998 7:44:00 AM
From: Mark Bartlett	Read Replies (1) of 116762

Gabriela, <<No doubt it is a politically sensitive commodity because, due to its pure simplicity as a store of value, it potentially undermines and threatens the role of paper money. >> Been saying the same thing for a long time .... IMHO it is critical the dollar be viewed as the safe haven .... if dollars goes, likely the DOW will follow. There has been such an inflow of new investors into the market (which is what is really driving the market at present, 'cause it sure isn't historically sensible earnings numbers) there could be a serious long-term loss of confidence in the market if it tanked and all those investor got burned. That would have serious implications re: capital gains/losses. I am sure the gov. would much rather collect capital gains than provide loss write-offs. This looks very much like the real estate boom of a few years back .... only the potential outcome is much more serious. MB

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