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Strategies & Market Trends : MDA - Market Direction Analysis

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To: pater tenebrarum who wrote (13339)	5/9/1999 7:17:00 PM
From: Casaubon	Read Replies (2) of 99985

warning JUST MY OPINION I'm not a "new era" person, however, I do believe we are in the midst of one fundamental change with regard to economics. Gold is not a value added or interest bearing instrument. It has underperformed ALL other investments in the long run. It is simply being commoditized. And as such, will trade as a function of its cost to produce and its utility demand. Check out what stocks are now hot, in this inflation wary environment: REITS. It is very unlikely people will lose thier jobs, and be unable to pay thier mortgages. This shift to investment in mortgage backed securities, is smart money saying, "OK, the party is over. It's time to take a small expectable cut of everyones labor". Smart money has finally realized that labor is what earns money, not stockpiles of curious metal which curiously has too many protons in its nucleus to have been created by a star as cold as our own Sol. In my opinion, gold is being retired as a symbol of wealth. I know this will generate some controversy, so, I reiterate this is just my opinion. PS I have never heard a logical argument defining the reason gold was monetized.

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