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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Jim S who wrote (37745)	7/25/1999 2:49:00 AM
From: d:oug	Respond to of 116766

Jim S, if history is our guide, then rather than receiving an answer from Ron Reese for your question, you will receive another of those pre-canned speeches Ron has already packaged and ready for delivery. Actually you may not believe what I say next, as its really kindof off the wall type of information, but you may have noticed that I keep on harping that Ron only parrots other peoples written words....well, could be might be can be possible that Ron has a computer program reading the posts on this thread, and its one of those that looks for keys words, and will produce an output that matches those keys words. Guess it would be hard to tell when its Ron doing the reading and posting, and when Ron is off on vacation for 2 weeks and the program kicks in. But have no fear, I am here. (above a joke) And I will supply answers to your question using Ron Talk. Jim S --------- And, therein lies one of the big problems with a comparativly based dollar -- if other nations have the economic strength (and will), they can join to manipulate it. If the PRC devalues, as a number of recent posts here suggest, what will that do to the yen and the dollar? Ron Reece -------------------- We have a strong economy because the American people believe they do. I believe far more in the psychological foundation of economics than on the statistical. We have a good economy because people believe we do. We have a strong dollar that is globally perceived as having value, because people believe it to be thus. I can handle the dollar losing value against another nation's currency when the economics justify it, but for it to be undermined by the panic-stricken, apocalyptic rantings of those for whom all that glitters is gold is a bit too much. Now the CBs have control of so much gold they call the shots and only fools bet against their actions. And the Fed is exerting their legitimate control through leasing since they are forbidden from selling their gold. And finally, the CBs have a vested interest in preserving the US economy, whether or not you call it a bubble. Low gold price is beneficial to maintaining global economic confidence. It prevents anyone from perceiving that inflation is a problem, thus creating an environment that permits global economic expansion at an accelerated rate. -end- of Ron Reese Doug