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

To: Enigma who wrote (56658)	7/23/2000 10:57:54 AM
From: lorne	Read Replies (2) \| Respond to of 116815

Anglo American Leads the Charge on Australia's Mining Industry. Sun, 23 Jul 2000, 10:03am EDT. full story >>> quote.bloomberg.com

To: Enigma who wrote (56658)	7/23/2000 11:43:33 AM
From: Rarebird	Read Replies (4) \| Respond to of 116815

<That governments will act against their self interest.> Correct me if I'm wrong, but people buy all types of insurance for a rainy day: Life Insurance, Home Owners Insurance, Car Insurance, etc. I think Governments bought Gold in this light. To expect governments to hold Gold above their own fiat currency is pure naivette: It is an insurance policy against a decline in the dollar and an inevitable vicious bear market in equities. Now if certain CB's are selling their gold ( BOE and Swiss, for example) and/or leasing it ( US Fedreal Reserve and BOE) it is because they are naive enough to think that they can control the financial landscape and make the gradual transition to the new electronic information age. If anyone can do this, it is the CB's of the World. The problem with this is that an equity will always be priced based on its earnings and growth rate moving forward. I found it interesting that this past Friday the semiconductor association came out with a report stating that growth may have peaked here. I think the report was quite revealing here because the semiconductor association has in the past always overstated growth projections. Stocks, such as KLIC, which came out with stellar earnings and tremendous margins this past week, sold off pretty dramatically. This sell off was more than just profit taking IMHO. KLIC is a great company with great management. I've said this before and I will say this again: As an insurance policy, Gold desperately needs the dollar to decline dramatically and the equity bubble to crack. It will go nowhere till this happens. Clearly, the CB's of the World are giving the impression to investors/traders that a profound downturn or recession can be avoided. They do control the money supply. But does that mean that they control the economic cycle? I think not.

To: Enigma who wrote (56658)	7/23/2000 12:06:52 PM
From: PAUL ROBERTSON	Read Replies (1) \| Respond to of 116815

Gore and Clinton are in the midst of the battle of their lives right now. So far the first battle seems to have been won. With the politically based crack of crude on Friday and the fixed cycles turning down on gold, it looks as if their helpful nudges are on the way. The one fly in the ointement is that they cannot control the dollar nor i believe the stock market. This week should prove interesting for the greenback, for if it falters things could really come unglued. If the stock market were to also fall into the election those negative fixed gold cycles might just invert. The uncertainty may be cause for a good deal of volatility in all the markets. Interesting times just keep getting more interesting. i guess a lot of debt and and a lot of money will do that. In AG testimony this past week, it is the first time that i sensed him to be quite complacent, particullarly when responding to the questions concerning the banking sector. paul