Judy, William, I respectfully disagree w/you William.
Central Bank Selling is a reality, confirmed by the only non-central bank information source, Gold Field Mineral Svcs., long the shadow agency of the world's central banks.
Secondly, if you'd had known me or listened to me, you would have not only sold your ABX, you would have sold it short...IT will take much of the recent lustre from the XAU on the morrow.
Thirdly, Morgan Stanley is not the only one who thinks gold can get to $300 or less... Prechter has been calling for $265 for several years, and as of 11/19/96, I've been shouting from the rooftops re: the recent London PM Gold Fix violation of 372.40 being critically damaging to the bullish case for gold bulls!
We have:
1)A market correction ahead of us...
2)A criminal trial courtesy of Kenneth Star ahead of us.
3)Hong Kong's return to China 7/1/97 ahead of us.
4)Maastricht Treaty Central Bank hand in glove book juggling w/respective nations as already demonstrated by Belgium, Italy & France ahead of us, in preparation for the first EU handouts 11/97.
Number 1 may occur in conjunction w/#2, and prior to August 97-twill be bearish as heck, not just for gold, or technology stocks, but for bonds as well.
#3 might be a slightly supportive matter, but I doubt it.
#4 is definitely already causing $32 per oz gold on govt books to be sold on the world mkts, (of course to other Central banks, don't kid yerselves---but they have Chinese and Muslim sounding names on the shingle) at current hedged futures market prices, and the positive difference being "applied" to the GNP and GDP and Debt ratios to create the illusion of having met Maastrict guidelines...DEFINITELY BEARISH
Nope, you two, you only see part of the picture...
BGO is good, Judy, and so is AZS, PGD and a couple others I could name but won't since they aren't tech stocks<bg>...
but PULEEEZE, don't take your gold advice solely from William...he's only got a part of the story...
And now you know some of the rest of the story!
Last but certainly not least...
the US $ is headed for the mid to lower 60's in terms of Japanese Yen, and the lower to mid 90's in terms of the Swisse Franc...
In case you think I'm nuts, I am on record for and can be independently found verifiably accurate for stating when the Yen was at 78 to the US$ that we were going to 125 Yen to the $ almost 15 months ago now. And what has the high been on the day of Rubin's pronouncement prior to G-7 in Berlin? 124.70...and what has it been since Rubin and G-7 have said enough is enough? 124.80!
Oh, and I have my money where mah mouth is!
O/49r |
