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

To: Richnorth who wrote (37783)	7/26/1999 1:57:00 AM
From: d:oug	Read Replies (1) \| Respond to of 116922

<<OK, I take your word for it that he is extra AOK AuOK AgOK !!>> From the Desk Of Peter GrandichApril 27, 1999 ... has now come to its final edition. ... go out the way I came in, unhedged and 100% truthful. Reflections On The Investment World ... on the behind-the-scenes of the investment world and it would be a shocker to many. I always said that if "60 Minutes" ever did a hidden camera investigation, the stock market would crash. For several years, I have given a speech entitled, "Everything You Always Wanted To Know About Investing, But Wall Street Will Never Tell You". I am sorry to say that over the years, things have gotten worst... The fact of the matter is that the great success of the biggest bull market in history, has not only caused the most Americans ever to become involve in the market (whether they know it or not. I wish I had a dollar for every time I heard somebody say I am in mutual funds so I will be okay), but has created hundreds of thousands (if not millions) of jobs tied directly or indirectly to the ever-increasing financial bubble we live in. Make no mistake about it, the price to pay if the bubble ever bursts (versus simply leaks out slowly) is enormous. "I'm getting death threats... ...Somebody has called and threatened to come to my house and kill me... For the one or two people left who actually think fundamentals may have an effect on the investment markets, here is some thoughts to consider (but remember, the bubble is bigger than fundamentals right now). The believers of the "New Economy", tell us it is now justifiable to believe share-price growth can far exceed growth of GDP. Their argument is the economy is now more flexible and capable of faster, non-inflationary growth. To some extent, they are right... All this is great, ... but the question is, what does it take to push it ... ... what has been the driving force up until now? For starters, inflation (and here is a lesson for those in love with gold-all two of them)... The other part of inflation potential is monetary growth... ... say to yourself, if I was just starting today, would I first buy the stocks at the current price (and the amount) I now own? If not, then you have to ask yourself why am I still keeping them ? ... ... back in 1982 we were 180 degrees reversed. Back then, the perception was that stocks were dead. Inflation and interest rates were very high and could only stay that way. Hard assets were the only money winners and the world was an unsafe place to live. Now the opposite is believed ... Like life itself, the investment world is one big ferris wheel. The only question is do we still need to go a few degrees before we are 180 degrees from 1982, or have we already started to reverse again. You decide! Gold - It seems the only way you could make money in gold now, is to ... ... truly dead, or is it like equities were in 1982 ? ... I am reminded of one of my own golden rules that the ultimate crime in investing is not being wrong, but is staying wrong... ... is widely known that there is a massive short position in gold. The only question is "Who is behind it and how does it get unwound (and for profit or lost)? We need to consider where the power lies and what avenues do they have open to them... ... then Clinton moved his mouth (I swear he was sitting on Rubin's lap)... ... anything that has ever been shorted to the degree gold has will have a group using whatever means it can, legal or not, to force it lower. ... possession is nine-tenths the law, those who control the gold rule! ... companies like Barrick Gold were one of the few who used this process ... like the Bankers, play into the hands of the third group. Who are they? The third powerful group tries hard not to be unmasked. They are the banks (don't confuse with Central Banks) and institutions who have hundreds of billions invested in the derivatives markets and who just happen to have big short positions in gold. ... these folks are indeed manipulating political connections to maintain the fallacy of a strong US economy and the sanctity of the U.S. dollar. The one thing I can say about gold is what I say about my home or car insurance. I don't want my house to burn or my car to be stolen but if they are, I want insurance to protect me against my lost. I hope to never have to collect. We know adjusted for inflation, gold is the cheapest it has been in several decades. Does it make good sense to buy some cheap insurance for some very expensive assets? Do bears pee in the woods? Everything I really need to know I learned from Noah's Ark: Plan ahead. It wasn't raining when Noah built the Ark. When the doo-doo gets really deep, don't sit there and complain-shovel. The ark was built by amateurs & the Titanic was built by professionals.