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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.70

-0.3%

Dec 5 4:00 PM EST

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To: PaulM who wrote (13016)	6/12/1998 10:31:00 PM
From: butkus	Read Replies (1) of 116796

Debt inherently presumes upon the future. When money is easy to obtain future expectations depart from what reality will/can eventually produce. Debt load is driven by the same human emotions that are reflected in Soros' "reflexivity curve" in the stock market. The greater the upward slope at the inception of the curve the greater the lending/borrowing reflexivity. Asia had a dramatically impressive upward slope at the inception of its curve (i.e. the Asian Miracle). The resulting dramatic debt reflexivity presumed upon a future that in reality cannot be produced. The borrower has lost, the BOJ is loosing, and we will loose. Gold follows the long bond curve. When the long bond goes up so will gold. The lesson is, use your easy to get dollars to reduce debt and when the deflation strikes buy gold when the interest rates go up.

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