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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 (28302)	2/15/1999 1:34:00 PM
From: Hawkmoon	Read Replies (1) of 116764

The only reason that this country has been prospering is because of the confidence the world has in our paper, but when that changes watch out. Oh Absolutely!!! Should the dollar lose favor in the world, it would be "Katie.. Bar the Door!!" But we aren't seeing that. In fact, we are seeing the reverse as the minor currencies are losing value and beginning to rely more and more on the dollar for transactions due to its relative stabilty or appreciation. The Fed has actually been lowering interest rates in order to weaken the strength of the dollar until recently. But now we see Japan providing a little competition which I opine (love that word..:0) is healthy. We are certainly not in danger of seeing the Yen replace the dollar as the global reserve currency. Btw, I'm glad you own your home. I'm sure it wasn't always that way. And the reason you were able to carry that debt and pay it off, I wager, is because you were productive and efficient. I absolutely agree that that the budget surplus is a smoke screen. It has been since 1986. But here's the issue. Since SS is running a surplus and has been for years, the question is where do we invest that surplus?? Stocks?? Mutual Funds?? or Bonds?? Yep.... Bonds. Has to be bonds so that the government isn't seen to be politicizing the stock market. That's the argument that is currently going on now. So the government issues bonds that are purchased by the surpluses in the SS "trust" fund. So government debt is being issued to provide SS funds a place to park and receive a return. Personally, I would rather see SS funds invested in municipal bonds and infrastructure projects specifically tailored to enhance productivity and efficiency, and not added to the general budget to fund pork-barrel programs. The other alternative would be to cut SS taxes altogether and provide further incentives for people to invest for themselves. Regards, Ron

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