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Gold/Mining/Energy : At a bottom now for gold?
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To: Vieserre who wrote (1365)7/7/1998 2:31:00 AM
From: ahhaha  Read Replies (1) of 1911
 
As I've said elsewhere the yen doubled between '93 and '95 when their banking system was as bad as it presumably is today. There are many who believe that the yen is falling because of the Japanese banking crisis. What will happen is the banking crisis will evaporate as a convenient blame mechanism just like what happened here, but the old problems are likely to remain. The Japanese have to do more and especially they have to use strong stimulative monetary policy. But the point is that most associate causes and effects that actually have little to do with one another.

What happens is something starts changing. Then the press looks around for something to explain it. Once an apparent candidate or whipping boy is found and canonized as THE explanation, then even the authorities start believing it. Actually the authorities use it as a convenient excuse to obfuscate the true issues which they believe might endanger their re-election. The truth is the obfuscation attempt is the threat to their re-election. It boils down to fearful and weak. That's what money and power make you: fearful and weak.

Gold has been in a five wave downside major bear market since 1980. The cause of the bear is the awakening of enslaved peoples to prosperity who are willing to work for less than the indolent masses of the advantaged nations. As long as the have-not nations undercut the have-nations, the price of gold will be under siege. Wealth always sows the seeds of its own undoing. You don't have to go far beyond Japan to see that in seven years that happened where no one thought it could. Therefore, as the socialist nations begin to practice free market capitalism at a lower price the world's wealth will flow towards them. In time they will develop all the degenerate ways that we and the Japanese know so well. At that time with the aid of the internet and the instantaneous non-negotiable demands that makes possible, the entire world will go out on strike. Then you'll get one helluva move in gold.
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