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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: Paunch who wrote (28288)	2/15/1999 12:56:00 PM
From: Hawkmoon	Read Replies (1) of 116764

Paunch, How much debt do you have? Do you own a house, or know people who do?? Do you own a car? Do you make payments on your credit card each month? Now tally up your debts and compare that to your annual income. Most people will find that they are 5-10 times their annual salary in debt. But so long as they have a job and continue to make their payments they retain their credit ratings. N'est pas?? Now what is the GDP of the US, and compare that figure to the our debt. And with the knowledge that Japan is about to be a BIGGER debtor nation than ourselves, I hope you'll get my point. But there is no doubt about it, excessive debt by your government is bad. That is why I agree with Alan Greenspan that all budget surpluses should be used to pay down the national debt so we'll have that buffer, should we need it in the future. Btw, our country has been staying afloat by creating wealth and innovative technology that increases productivity and efficiency. And we have done it even better than the Japanese. That is why the dollar is still so strong. We are the economic engine of the world. Our technology shapes the world as is seen by the internet and the ability we both possess to debate this issue in public. Our financial system remains the strongest and best led as well, even though it is obviously not perfect. We are currently benefitting by the decreasing price of raw materials worldwide due to overcapacity of foreign suppliers and their weak currencies. All this while the Fed tries to maintain liquidity and credit capacity in a world where more and more transactions are being done in dollars or backed by dollars. And what value might it be that gold will forever hold??? Can you quantify with a price? I would like to know so I can buy it at that price so I'm secure in the knowledge that I didn't overpay or underpay for it. And best regards to you as well, Ron

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