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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: PaulM who wrote (24981)	12/28/1998 8:20:00 PM
From: Hawkmoon	Read Replies (2) of 116764

Paul, I read Armstrong's analysis through fiendbear.com Here's a direct link to that article. pei-intl.com I think there is persuasive case that this tax structure will cause significant unrest in European markets. That may prove to be a benefit for US markets and help to keep the balloon inflated just a bit longer. What I've been pondering is that the major central bankers of the world really need to apply continuing pressure upon gold so as not to permit any rise in the metal's price undermine their monetary policies. I see increasing tensions between finding "safe harbors" in fiat currencies, or in gold. Given that, minus a major unforseen systemic shock (like LTCM), central bankers apparently retain considerable ability to manipulate gold prices through settling short sales on gold for cash. In fact, I would suggest that for the sake of the current global financial system, they will do everything possible to prevent gold from regaining value as a "currency". And for this reason I have been hesitant to buy into gold at this time. I believe that with turmoil surrounding the EMU, and their desire create an alternative reserve currency to the dollar, there may be a concerted effort to further undermine gold prices. What are your opinions? Regards, Ron

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