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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (69685)	10/28/1999 1:47:00 PM
From: Knighty Tin	Respond to of 132070

Mohan, I think you are being a bit too idealistic about commodity markets, in general, not just gold. Govts. regularly try to manipulate them and the unlucky can get screwed over by their games. I got zapped in 1973 when Tricky Dick and Earl Butz sold wheat to Russians for less than the market price and loaned them the money to buy at 2% interest, when the going rate was 12%. I was happy when Earl did prison time and Tricky needed a pardon to get out of his. I mean, who wants to go to a prison with the nickname, Tricky Dick? <g> So, you have to take govt. actions and possible actions into account when you play, just as you have to watch out for producers. You have to figure out who their main political contributors are to know what they will do. And even then they can do something really screwy, like conservative Republicans reaching out to rescue The Soviet Union from starvation. Of course, I never get burned badly now that I mostly use options instead of the futures themselves.