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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.06

-1.4%

Nov 17 4:00 PM EST

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To: Zardoz who wrote (16406)	8/23/1998 12:47:00 PM
From: Terry Rose	Read Replies (1) of 116762

Hutch, The current game of devaluations involving various countries reminds me of the movie Independence Day when the president discovers the alien's plan "they are locusts consuming all of a planets resources and then they move on and we are next". The currency raiders have the monetary resources to wipe out any nation's currency with a concentrated assault. Canada currently has 22 billion dollars in monetary assets to defend it's currency if they are next on the menu. With trillions of dollars slushing around the globe this asset reserve would be inadequate. No nation has adequate reserves to prevent market forces from establishing a currencies intrinsic value. Since no currency is safe in this age of "funny money" in my opinion I believe that gold is the ultimate safe haven. Perhaps the BOC considers gold reserves unnecessary. However it's citizens that are fortunate to acquire gold now will come out of this thing better than those who follow the BOC's lead. Terry,

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