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

To: PaulM who wrote (60507)	11/4/2000 8:47:02 AM
From: Alex	Read Replies (2) \| Respond to of 116770

I think we need a Standard Oil in the gold mining industry. I know, collusion to drive the pog up is illegal. I sold my largest gold stock holding a few months ago, but still have a holding in a couple of juniors. I also hold the physical. The rest is in a small selection of other stocks, short term securities, and cash. I don't think it's so much the supply of physical that's driving the price down, although it helps, but the supply of paper gold. I believe that, for whatever reason, many miners have decided to sell their reserves forward at twenty year lows. This is well below their replacement costs for this gold IMO, and makes little or no sense unless they intend to drive the gold industry into the ground. I agree with Ken B. in this regard. I also believe that the opposite is occurring in the U.S. $. It's strength is unsustainable IMO, and can only lead to a collapse in world trade and stock markets. The U.S. dollar strength is not entirely the doing of the U.S. either. Canada, for example, has for a few years now, held their interest rates well below those of the U.S., thereby allowing the loonie to fall and using this devalued currency to balance their budget and pay off their debt at the lower short term rates. Any inflation caused by such a devaluation is dismissed with the wave of a hand. It's the New Economy :). Well, that's just about enough babbling from me. Back into my hole. P.S. - Always enjoy your on topic posts Paul. Regards, Alex