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Gold/Mining/Energy : Gold Price Monitor

GDXJ 128.07

+0.7%

Jan 16 4:00 PM EST

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To: Alan Whirlwind who wrote (18040)	9/7/1998 9:55:00 PM
From: paul ross	Read Replies (3) of 116893

Interesting tid bit from Kitco: Date: Mon Sep 07 1998 15:39 OLD GOLD (DEFLATION VERSUS INFLATION) ID#242325: Copyright c 1998 OLD GOLD/Kitco Inc. All rights reserved Recent events have made it crystal clear that the US financial and economic elite faces a most unpalatable dilemma. Either reflate in a big way or write off many hundreds of billions of dollars of emerging market and related debt as uncollectable and watch ther world sink into a 1930s type Depression. Given this stark choice there is litttle doubt in my mind that the reflation route be chosen. Most bullish for all commodities and especially gold. Bearish for bonds, bearish for the dollar. Good for emerging markets. Mixed impact on US stocks -- bullish for cyclicals and commodity related issues. But bearish for financial and growth stocks. JP keeps saying that the deflationary tide is unstoppable. To that I say, NUTS. As long as US is folowing deflationary policies there is little the rest of the world can do as long as it is on a de facto dollar standard. BUT IF THE US DECIDES TO REFLATE -- THAT IS ANOTHER MATTER ENTIRELY. Return to Kitco Homepage $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ Recent sharp slowing of US M3 growth: bos.business.uab.edu

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