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To: BigBull who wrote (75236)	10/1/2000 1:54:45 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

BRAVO Bullsky ! re: Gold has no inherent value... I thought that comment so irrationally Gen-X; that it was not worthy of a sane, thoughtfull response... Truuuuuuuuly Ammmmmmmaaaaaazing; that intelligent, well educated people have bought into this Fiat Money - new paradigm,productivity Utopia... Long Live those who respect historic economic & market cycles & have greater attention spans; in longer timeframes than the birth & death of either the mayfly, or theGlobe.com et al... Gold doesn't matter any more.... neither do Food & Energy; right ? ..."This is inflation in it's most odious and pernicious form; the kind that destabilizes entire sovereign govts. If you think the recent oil protests in Europe were something wait to see what happens if these currencies fall much further" - BINGO ! Diana; do you still believe in the laws of "gravity" by chance (VBG) ? ============================================================ PS - great comments (as usual) from Fleckenstein on the end of qtr tape painting failure & it's obvious implications... <<Nowhere fast. . . After the sell-off of the first few hours, there was an attempt at a ramp job in the S&P futures, but when it barely got above the highs of the day it fell apart. The S&P spent the last couple of hours draining and settled on the low of the day. The Nasdaq futures and all the other indices basically did likewise. As you might imagine, the leader to the downside was the Sox, off about 6 percent. Speculators have got to be disappointed with today's late day sell-off. The last three days of the quarter, when we usually see the ramp-job, was net-net a bust. Even though the Nasdaq composite was down less than it was up yesterday -- ditto for the S&P -- I think the message from the market here is that a lot of the old tricks aren't working as well as they used to. Most of the stocks that were slated for ramping fell apart. A lot of those stocks that had been up sold off a fair amount. There was a fair amount of damage done across a pretty wide spectrum in technology. My guess is that if the bubbleonians don't figure out some way to rescue the market in short order early next week, it could really take a pasting. I think there is a desire to believe that the earnings numbers are going to save the day. I anticipate that the earnings numbers won't be that great and the warnings going forward are liable to be worse than people expect. All-in-all, the market has taken on a decidedly more negative tone here lately. It has the kind of feel like it did in the fall of 1987 or in Tokyo at various times in 1990. In other words, it feels as though a trap door could spring open at any moment. >> ... a "Trap Door" - that could spring open at any moment... AMEN.

To: BigBull who wrote (75236)	10/1/2000 2:35:23 PM
From: stsimon	Read Replies (1) \| Respond to of 95453

OT - There is little wrong with the dollar, but there is much wrong with the Euro. I would never say that our elected officials are incapable of screwing up so badly that the dollar could collapse. I just think it is highly unlikely near term. Like all world traded commodities, the price of gold will fluctuate. Unfortunately, when it rises, central bank selling will reappear. Those more skillful than myself can likely make a good buck trading small rallies and declines. Otherwise, you may as well wait for Godot.

To: BigBull who wrote (75236)	10/1/2000 3:38:10 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 95453

Bull: I think many foreign interests initially welcomed dollar strength as it gave a boost to their weak economies and hiked returns on their US investments. Some still do. None other than Gerhart Schroeder said recently that he thought the weakness in the Euro was a good thing. But there can be too much of a good thing even for these people, and I think we have reached that point with the dollar. Modest dollar strength is one thing, but the relentless trashing of a host of foreign currencies is something else again. Together with surging oil prices, it raises the spectre of a massive inflation overseas. All so a bunch of pampered Americans can continue living WAY beyond their means via never ending balance of payment deficits.

To: BigBull who wrote (75236)	10/1/2000 4:41:17 PM
From: diana g	Read Replies (1) \| Respond to of 95453

<<<Off Topic>>> Gold again Hi BigBull, I should have said-- "We'll Not see gold at An Inflation Adjusted $500 again ever." But qualifiers take away from the impact of such a grandiose statement, don't ya think? <g> It seems to me that your very well-put argument supporting the idea that the US dollar must decline is not really an adequate base for the assertion that gold must rise substantially. Of course I agree that the $US price of gold would rise somewhat as the dollar declined, but surely one must believe more than this to think gold would be the best way to play the declining $US? btw, I can see sense in some precious/semiprecious metal investments. Silver has many practical uses and might be worth looking into, as might other PMs. It's gold I'm speaking about when I say that a substantial rise in its price is not a good bet, imho. There are vaults full of it. Mining continues. Nobody's burning it or eating it or using it in any significant amount relative to its supply. Will central banks turn again to backing their currencies with gold? Who believes that? Then where is the huge demand for gold going to come from? No, gold's not going to surge up and reclaim its old place as a universal currency. Without that status as the universally recognized backing of national currencies; without buying by central banks to back their currencies-- where is the demand for gold coming from? Why does it have value? Gold's value is as ephemeral as any unbacked paper currency. It's not useful. It's not needed. It's not valuable in a real way; --that is, Not valuable in a useful way. I repeat though, that other PMs might well be worth a look. All just the very humble opinion of this simple grrl. btw, Slider, I just saw your posts to me and will read them and respond later. I'm going to give the dogs a bath now. I need to do that before it gets cooler outside. regards, diana