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Gold/Mining/Energy : Gold Price Monitor

GDXJ 114.62

+1.2%

Dec 17 4:00 PM EST

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To: Eashoa' M'sheekha who wrote (11759)	5/16/1998 3:31:00 PM
From: Crimson Ghost	Read Replies (2) of 116815

World is now on a de facto dollar standard. Gold cannot move big time until this standard is seriously challenged. Just beginning to happen in Europe and Asia. But make no mistake -- when the greenback falls off its pedestal and US financial markets head south on a sustained basis -- gold will surge beyond your wildest dreams. I remain very skeptical about this "safe haven and liquidity driven markets" talk. They were talking this way in 1987 too. Everybody knew stocks were overvalued then, but most thought the overvaluation could continue for a long time because of the huge amount of liquidity being created. This is a huge bubble that must keep surging or collapse. People are only staying in and getting in because it keeps going up. The moment upward momentum fades out, a torrent of money will start rushing to the exits. And the first correction not quickly followed by a return to new highs will tigger one of history's most severe bear markets.

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