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

To: Crimson Ghost who wrote (56615)	7/21/2000 9:21:03 AM
From: Phil Jones	Read Replies (3) \| Respond to of 116814

George, my vote goes to gold henceforth being just another precious metal. And, unlike the other precious metals, there's an awful lot of it already out of the ground and serving no useful purpose. Except for early days, gold has always been just a security blanket, nice to have around in uncertainty. But the uncertainty has been gone for more than ten years. U.S. currency is the new gold. So what if it inflates. The U.S. is so strong and dominant in the world that its currency will keep its value vis-a-vis the other currencies regardless of how much paper the U.S. Treasury prints. Like the bully in the playground who can tell someone smaller that from now on he must call him sir. What role can gold serve in such a world? The only way I see gold ever having a monetary role again is if there were some sort of natural disaster on the planet that was of such a massive scale that the world's population lost faith in the U.S. to pull them through. (An example might be if the "super-volcano" that sits under Yellowstone Park should go off.) Until then, it's over for gold. If anything, I can see things getting much worse for the gold price. The reason is simply that its current price is based on big countries keeping their present hoards, and they're keeping those hoards because they aren't quite sure what to make of gold and its place in the monetary system. But at some point the U.S. and Germany and the other hoarders will see that holding gold no longer has any meaning. And then the flood gates will open. What value at that point?

To: Crimson Ghost who wrote (56615)	7/21/2000 9:29:11 AM
From: Rarebird	Respond to of 116814

<But markets have been wrong before.> I don't think markets are ever wrong, George. Their like Life: they just change constantly and adjust. <Does gold still have a role to play in the global monetary system.> It certainly does. Gold will always be a great currency hedge against a falling (over inflated) dollar. I said a little while back on this thread that sometimes Bear Markets end with a decisive break to lower lows. Sometimes the lows are marginal and sometimes they are severe. One thing is for sure: The biggest losses in a Bear Market usually come at the end and not in the beginning. I don't hold to the view that Gold is Dead. It is just plainly unattractive as an alternative investment to equities for most traders/investors at the present time. Let's just say that most bearish fundamentals are being completely ignored by equity investors here, ex; trade deficit, account deficit, PE's; etc. Moreover, I don't think equity bulls are sick or evil. Their just naive like most children. Greenspan is ultimately on their side. I'm still somewhat exposed to the Gold Market here. But I can live with the risk now.

To: Crimson Ghost who wrote (56615)	3/19/2002 5:01:52 PM
From: long-gone	Read Replies (2) \| Respond to of 116814

Richmond Times Dispatch Varina Students Facing Bogus-Bill Charges Mar 19, 2002 Six Varina High School students ranging in age from 14 to 17 have been charged with making, passing or possessing counterfeit $10 bills that were used to buy lunch in the school cafeteria. The fake bills were made on a home computer, police said. One student was charged with forging a bank note, and four others were charged with passing forged bank notes, all felony offenses. A sixth student was charged with possession of a forged bank note with the intention of passing it, a misdemeanor. The students are scheduled to appear April 15 in Henrico Juvenile and Domestic Relations District Court. Police declined to comment on the quality of the counterfeit bills. timesdispatch.com