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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: Ming who wrote (14362)	7/10/1998 3:59:00 PM
From: Al Gordon	Read Replies (1) of 116756

Ming I'm not so bold as to predict when a global meltdown will occur,however there two extremely threatening dark clouds on the horizon.One is y2k and the other is the sheer amount of debt owed by countries to other countries globally.I don't know about you but I'm finding it increasingly difficult to believe that this kind of deficit financing of economies can go on much longer.How much money does the IMF have?They're turning into an economic triage unit running around putting little band-aids on economically hemmoraging countries to little avail.The list is growing rapidly, witness Russia and Pakistan.If we ran our own households like that(ie. owing more per month than we earn)We'd go bankrupt right?The main difference is that each countries bank can just keep on printing more money.Eventually,and soon I think, this system is going to reach critical mass.Of course it also looks like the U.S. dollar will be last to go.Crazy times ahead.

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