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Gold/Mining/Energy : Gold Derivatives
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To: Zardoz who wrote (1)9/21/1998 7:39:00 PM
From: teevee  Read Replies (1) of 39
 
Hi,
The USA has finally said no to the IMF. As a result of this, no one else will replenish IMF cash. All of the deferred bad debts held by many nations and their insolvent banks will now come home to roost. What the market has been saying to me is that gold has served third world and Asian buyers very well. As their economies and currencies have and continue to collapse, they have been able to sell gold and buy something to eat. Gold buyers today are literally putting food on the table for many people in Asian and third work countries. I concur with your target for lower gold prices (you can't eat it).
regards,
teevee
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