Hi Everyone,I'm back and I see many topics that I just can't resist. David has monitored the thread occasionally for me while I've been absent and gave me a running summary. I'm going to post tonight, but in the meantime, I just had to get my two cents worth on Phil's post about Mulroney and Crow.
First, Phil, I have never seen anything Right, nor Honorable, about Mulroney. This is the guy who gave us the debt that exceeds the U.S. debt per capita, and for which we shall not escape the awesome taxes for decades to come. Despite the politicians celebrating the end of the deficit, just figure out how long it will take at a few billion a year to wipe out a debt of well over 600 billion. He also, after spending half a million taxpayer dollars on his farewell tour around the world (read working up political connections for his return to private life after leaving the sinking ship called the Conservative Party) and which would add more lucre to his considerable stash. He then proceeded to try and sell the people of Canada back the furniture that we had paid for in the first place, and for more than it was worth. He has since sued and picked up millions more over the Swiss Bank debacle from the Canadian taxpayer. It's too bad that the Swiss banking system is not more forthcoming about it's more questionable depositors, because I still think there is a story there which, I guess, will now never be revealed. I could write a book on the damage he did to this country; however, in recognition of our American friends and the fact that they have their own cross to bear, I'll just leave it at that. Besides, there have been many really good books written about his now-legendary shenanigans while in office, anyway.
As far as Crow is concerned, his policy of continuing outrageously high interest rates, in the face of record high unemployment and stagnation in the economy, drove this country to the brink of asking for help from the IMF. If you recall, there was talk that if the country continued to slide, we might have to ask the IMF for assistance, as New Zealand was forced to do.
Sorry, Phil, but I just can't see Right, nor Honorable, in connection with that name without seeing red. You can see why I am not impressed with their lobbying for the gold backing. Besides, I believe the EU will use their own discretion on this matter in any event.
More to the point, Japan's fiscal year-end comes at the end of March, and I believe there will be many more insolvencies revealed and, consequently, more bad news from an already battered Asia. This, as well as other factors, could have a very profound effect on the price of gold. Don't forget that this will ultimately have an effect on earnings in the U.S., which in turn will have an effect on the Big Board.
This is, of course, my opinion, and open for discussion.
Good to be back and happy to see all the die-hards still here. I'll post some more tonight, but it will take a while to get caught up. Guess I better polish up the keyboard. :-)))) Big Smile.
Cheers Everyone
Shirley |
