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Gold/Mining/Energy : Gold Price Monitor

GDXJ 134.74

-0.9%

Jan 21 4:00 PM EST

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To: Don Green who wrote (18032)	9/8/1998 1:31:00 AM
From: E. Charters	Read Replies (4) of 116898

Don you are dead dead wrong. Inflation or devaluation, the hedge is gold. Why? Because gold is money. It is not something that you can really control except for short periods. Right now what is controlling gold is a massive speculative bubble in the US stock exchange. Huge amount of money have depressed gold prices to 1/2 its real value or less in order to shore up the European currency debut and the massive US debt payments. But get this the engine of this COMEX and the IMF are bankrupt. They are 3 months from total collapse. Asia has simply overtaxed them. In 1930 If you had an ounce of gold in your pocket you could live comfortably for a month. That pegs the price of gold at about 1400 dollars today. It is a metal of constant value. Damn COMEX. The party is over. The stock that went to $65.00 in 1930? Lakeshore Gold mines. Canada's best industry in the 1930's? Gold mining. A miner in Kirkland Lake made 15 dollars a day. Equivalent to 600 dollars a day today. He bought a man's suit in the local tailor shop to just cash his weekly paycheck! mailto:echarter@vianet.on.ca

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