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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: Alex who wrote (13861)	6/28/1998 7:28:00 PM
From: goldsnow	Read Replies (1) of 116780

Alex, lets assume that psychologically imortant 150 yen to a dollar would be broken and would be allowed to stand without US/Japan intervention..(some argue that this scenario is a given) I submit that this event would be of a far more significance than POG sliding below $300 last year... That would signify a virtual capitulation by big gvn's in a face of the Markets and economic realty.. No currency an withstand such an admission, not Dollar not Euro...It would be irresponsible for EMU to start the Euro by declaring that USA and it's Dollar is he only cuntry that matters for Europe and that Asia/Australia/Rest can go to hell...Thus I am of the opinion that we are on a verge of a massive intervention that would bring Dollar drastically down..and a massive Spending Programs announced by Japan internally as well as in Asia..It is likely China to do same...EMU cannot afford to have nothing but Dollars and Gold in reserves economically..but cannot have Dollar politically.. Gold $350 by October..$380 by Christmas...

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