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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.80

+0.9%

Nov 19 4:00 PM EST

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To: Hawkmoon who wrote (27265)	1/29/1999 1:19:00 PM
From: donald martin	Read Replies (1) of 116763

<<I would have to ask you exactly where you would find the greater storehouse of value>> Gold is a better store of value at $288 than it is at $325 - 450. <<And since gold is seen as an indicator of inflationary pressures, it would send a shockwave through the dollar and other currencies that these Fiat currencies are losing value, and those equities and debt obligations are less secure.>> I think you're delineation of cause and effect is flawed. Fiat currencies won't lose their value because gold went up. Gold will go up AFTER fiat currencies lose their value...and equities and debt obligations have become less secure. <<That would result in a mass exodus from those holdings and into gold and gold mining stocks.>> If that's were money is going to be made, where's the surprise in that? <<I mean are the jobs and profitability of the precious metals mining sector really worth the millions of other jobs across the economy that could be lost?>> It won't be gold's fault if millions of other jobs across the economy are lost. Those jobs, if they're to be lost, will be lost because of current "misinvestment". Miners dig ore out of the ground not to drive the market, but as a response to the market. <<I know you goldbugs disagree with me, but you can't refute the logic (I don't believe) that gold can't rise without a commensurate drop in Fiat currency.>> My only disagreement with you lies in what you think is "cause" and what I think is "effect". IF the Fed does a credible job managing monetary policy, you've got nothing to worry about. I'm just betting they can't pull it off for too much longer.

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