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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: long-gone who wrote (14700)	7/20/1998 6:49:00 AM
From: Crocodile	Read Replies (1) of 116764

Canadian dollar.... Richard, It will be interesting to see what happens here in Canada. Things are looking rather grim with our dollar. But actually I wonder if the government is using stalling tactics until "tourist season" is over. It seems that every day the newspapers and the TV news are full of stories of how Canada has become a mecca for American tourists because of the exchange on the dollar. Meanwhile, cross-border shopping (Canada in the USA) is really dead and the malls in upper NY State are taking a real hit. I guess you could say that the low Canadian buck is serving a purpose as a monetary "accumulation" mechanism. My guess is that come September, Martin will institute some kind of "get tough" policy to stabilize currency. Interest rate increases seem inevitable. If gold valuations are still this low, I would think that the Canadian government would begin building up its reserves again. Seems like a great strategy. IMO, gold and oil are like speculative time bombs. Sure they are ticking away pretty quietly now, but things won't stay that way forever. Cheers Richard...good to talk to you again. Croc

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