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

To: Crimson Ghost who wrote (63245)	2/3/2001 3:57:33 AM
From: GST	Read Replies (1) \| Respond to of 116753

"Managing" market forces -- an oxymoron some would say -- is like walking while carrying a shallow tray of water. Once the water starts to move around in the tray it is almost impossible not to over-react and cause more shifting and then spilling. Energy markets got the water in AG's tray moving unexpectedly -- and the rate cuts are not "good medicine", just as a sudden tilting of the water-filled tray does not stop the water from moving around -- on the contrary it makes it uncontrollable. There is a reason why AG prefers to be gradualist -- he is walking with a ten trillion dollar tray of water -- this idea that we hurt for a few months and then the good times roll on as before is poppycock. The world's financial system which was held together a few short years ago by the strength and stability of the US monetary system is now going to be destabilized by that very system -- at time like these all bets are off -- this is the time for gold.

To: Crimson Ghost who wrote (63245)	2/3/2001 7:06:31 AM
From: Square_Dealings	Respond to of 116753

George, I agree that if confidence in the US$ and the US banking system turn negative gold will definitely rise. Is all it will take is a sentiment change that gold is valuable, not only for making jewelry but for making micro circuits and printed circuit boards, and as a safe keeping for savings. I think the problem is that very few people have money for savings, so there is nothing to put away. The US consumer and corporation has huge debt and basically no savings. Everything is riding on the stock market and the future appreciation of the company stock. I see a big turn coming in hard assets as baby boomers look to retire and protect assets rather than speculate in the stock market. The trend will be towards saving more and spending less. I personally put around 15% of my savings in gold purely as a currency hedge because I don't want to see the money I've earned turn to dust when Greenspan's credit bubble is burst. I am considering buying a small amount (1%) in coins just in case history repeats and their is a currency crisis. I read the history books and look at the people lined up outside the banks in the 30's trying to get out 10% of what they put in and I don't want to be there, ever. I look at gold mostly as a hedge against dollar deflation. I think others will feel the same way once they realize how shaky the US financial system really is and look to gold to diversify assets. M.