O/9r - Attended an investment seminar and got a couple of interesting tidbits from it. One from the "international investment expert" who spoke at some length about the euro. I asked him about your idea of the euro becoming the 3rd major reserve currency, thereby devaluing the dollar and raising POG relatively. He agreed that the euro will be as strong as the dollar, but wrt POG, his eyes glazed over, his head turned around 360 degrees, and a metallic voice was heard to say "Gold is dead, it will never be money again." Well, perhaps I exaggerate a bit, ..... he didn't actually say "Gold is dead."
The other speaker was an analyst from a commodities house who has been unfortunately accurate on POG the last two years. Unfortunate because he believes the chart indicates a drop to 220, from which it may not recover for 2 years. He believes that in the last run-up (Bre-X days), many juniors were priced as if POG was 700, so there is lots of value to unwind yet. I figure 220 is close enough to 198 to give you credit if it happens, but I hope I won't have to.
Could you give us a quick summary of why "bugs" think that stocks must rally before gold? Seems obvious to me that your stock is going to rise after your product's price rises, but so many sophisticated folks think otherwise that I tend to think there is something to it. Just haven't figured out what, yet.
Thanks,
Pete |
