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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (67603)	6/5/2000 2:06:00 PM
From: Roebear	Read Replies (1) \| Respond to of 95453

Michael Happel, Since oil is priced in US$, this is a possibility. If it occurs, I would say someone really really doesn't like Al Gore. It was a close call on AEM, I got whipsawed for a quarter at the bottom on a third of my position because "AEM wasn't listening to me", ggg. Fortunately, having experienced this momentary idiocy before, I quickly re entered. I am adding some OSX here, hoping it doesn't launch too quickly from here. My goldness, looks like spot 286 is going next. I believe a libation is required. VBG Roebear

To: The Ox who wrote (67603)	6/5/2000 5:01:00 PM
From: Archie Meeties	Read Replies (1) \| Respond to of 95453

Is this the beginning of the great gold run of 2000? Are the Oil Boom2000 drums made of gold? Your statement has more truth in it that you probably realize. Don't be surprised one day to wake up and find an ounce of silver to be worth a barrel of crude. The only reason gold is moving is because the dollar is sliding. Or you could see things with different eyes and say that the dollar is weakening because the true value of commodities is being realized, of which gold is queen, and fiat the enemy. Some fiat more than others. In any case, gold actually should be moving more than it is based on the % moves of the dollar index, which, if it continues, leads me to think that the gold carry trade will attempt a "controlled burn". That's actually good for "paper gold" - if an all out conflagration ensued, paper gold would burn as well. (This nobody believes) You see, the only reason the fed is hiking rates is to defend the dollar. If AG wanted to cool asset inflation (which is the biggest inflation of all), a far more effective weapon is the money supply. In fact, the money supply is expanding vigorously! The freshly printed money is being piped directly into equity markets with the help of your favorite crooks. To continue to attract foreign money (and that's something that must be done actively - just look at the trade imbalance) - the equity markets must perform. When they do not, the Fed has no chance to salvage the dollar but by hiking rates and attract money to the treasuries. That's why you get 50bp after the dung selloff. If the markets rally from here, gold will sink and the dollar strengthen. Momentarily. -g-