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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: bill meehan who wrote (21786)2/25/1999 10:59:00 PM
From: Lucretius  Read Replies (3) of 86076
 
Hypo: Think about a whole planet that, in panic, buys gold over a 2 year period because of the fear of a financial disaster, meanwhile gold producers are pumping the stuff out at wild rates to meet the huge demand. Would you say that perhaps gold is at some sort of important top? I would.

Now for reality.... 1997 thru today: Unfortunately, it wasn't gold that was panicked into, it was the US dollar and Easy Al has printed like mad to keep up with demand. Now those holders will turn and dump them on us giving us one big fat inflationary sandwich even as Asia continues to experience deflation (simple supply and demand). Everyone has wondered why we can grow the money supply the way we have and not have inflation.. pretty simple.... we've exported the dollars to the restof planet that was seeking a flight to "qulaity" If anything there has been a MANIA into dollars over the las t few yrs resmbling the mania into gold in 1980. Again, I like to go back to the fact that I can't ever think of a time when Russian peasants panicked into something at a bottom. Meanwhile w/ the world-wide print-a-thon going on... nowhere to go and play but precious metals due to weak demand for commodities and gutted stock mkts. Silver is already experiencing the fun... gold will soon follow when the large shorts are mowed and GS is put in a coffin. -g-
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