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Gold/Mining/Energy : Greenstone Resources GRE.T or GRERF OTC -- Ignore unavailable to you. Want to Upgrade?

To: Syncrude who wrote (779)	6/13/1999 9:11:00 PM
From: SwampDogg	Respond to of 1005

"Gold is no longer a refuge in times of crisis" The time will come but the idea is to still have some capital left to invest. Unfortunately, many of the gold bugs have been averaging down for the past 3 years and some since the early 1980s. When I see countries such as New Zealand switching to electronic currency I think that we are close to the end of the gold bear market; it is just that the end is sometimes the most brutal. By the time that it is over most gold bugs will be wiped out. Just go to a mining conference these days and see the empty seats.

To: Syncrude who wrote (779)	6/14/1999 11:47:00 AM
From: EZbeliever	Read Replies (4) \| Respond to of 1005

Syncrude...."Gold is no longer a refuge in times of crisis". It is obvious you are a just another victim of the anti-gold, pro-fiat propaganda. Sad to say, but you and the rest of the majority are in for a rude awakening. I would begin by asking what crisis has the world experienced that demonstrates gold is no longer a refuge. Is it the push button, schoolyard bully "crisis" manufactured by the New World Order pupiteers in Kosovo? Ditto for Iraq. Was it Vietnam, or Korea. Was a real crisis the near LTCM meltdown, quietly stabilized and swept under the rug by the very institutions that benefits most from the current fiat system. No doubt WWII was the last real crisis. There is little doubt gold showed it's colors then. If you don't believe it just ask the jews who owned gold, and the Germans who owned paper. In fact, there is still a great deal of unreturned gold stolen from the Jews who had the foresight to use it as a refuge in times of real crisis. Notice that even in cases that are being proven daily, it is not their gold to be returned, but digits stored in a computer. How about the last financial crisis in the United States? What did our wonderful government do during the hieght of the depression? Confiscated the gold of course, then devalued the currency! These are just infantile illustrations of modern history. Gold has stood the test of time and crisis since before recorded history. "There is nothing new under the sun". Activities of the moneybarrons is certainly no exception. Purveyors of fiat systems have always waged a campaign againsed gold for a few simple reasons. First and foremost, gold cannot be created out of nothing. Second, it does not depend on anyones promise to pay. The problem for the moneybarrons in this case is it eliminates their ability to create money and the power that comes with it. With gold, power is absolutly in the hands of the holder. This of course, is an intolerable situation for the central banks and power hungry governments. So now it appears all this has changed and gold is no longer relevent. Now we have the Federal Reserve and the IMF among others to protect us from crisis. Doesn't that just make you feel all warm and fuzzy and secure? It appears even the European central banks are going to learn their lesson this time around. You see, after reaching the pinnacle of sucess, each successive generation which inherits the fruits thereof becomes more spoiled and complacent. They quickly forget the lessons and principles that a prior generation applied to achieve superior results. Such is the case of European central bankers. Why is it that they own the majority of the worlds gold supply? Because the moneybarrons who created the fiat systems knew that gold was the only true money, and they used the profits from their activities to buy a yellow metal that always holds its value in times of crisis. Now we have a copuple generations of new executives that see the world in a different light from the men who built the empires. They really do see gold as a relic. Expensive to hold and "nonproducing", they eagerly seek alternatives. The allure of ever increasing profits in derivatives, third world loans and the limitless creation of didgits in a computer are too much to bear as opposed to the dull expense of holding gold. Now they have even found a way to sell their gold without giving up ownership (so they think). Gold loans. Yes, the ultimate way to own that old yellow relic and recieve a return on it. After all they are just loaning the gold, right? An even better asset on the books than the metal itself, right? The next real crisis is going to expose the foolishness and folly of the current generation of financeirs. Yea, gold is no longer a refuge in times of crisis. So put your capital where if is safe. Like government bonds, and FDIC insured cd's and don't foget to use a foolproof asset allocation model to protect yourself from loss in mutual funds. Yea, the history of the world is littered with crisis. Thank goodness we have the current generation of central bankers to protect us in times of trouble. Just in case they run into some unforeseen problems. Would you give us a shining example of a fiat system that has been around a while? A casual student of financial history I know of one that was around almost 500 years. But it was not paper, it was a wooden stick used in England to pay the kings taxes and circulated as money quite some time. Of course, this time things are different. EZ