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

To: long-gone who wrote (69537)	5/19/2001 1:58:02 PM
From: marek_wojna	Respond to of 116894

<<Question is, will this price spike drive a great enough demand change in gold as an investment prior to the BoE sales resuming??? >> To make it very simple - gold traders, banks, financial houses are in a self made trap. They were using VISA to make mortgage payments, MASTERCARD to pay off VISA, AMEX to pay off Mastercard while there is multiplying amount of gold on paper there is only so much physical. The whole economy is in this stage now, but this metal has one priceless use - it is a barometer of economy, predicting the coming storms when they already formed. Can anyone have a price on such tool? Back in fall I wrote - US$ will remain strong when gold will be moving up. I still don't see weak dollar, it will remain strong relatively to other papers. We have a global economy and we'll have global currency collapse before new gold backed system is put in place, the alternative is US bankruptcy which will lead to world chaos. The reason is as US prints more and more, other countries to save their economies and protect the population doing the same. It is very symbolic, but the pictures of the piles of worthless paper on the floor of NY Stock Exchange of 1929 should be memorised as a lesson for a human kind. Call me a doomsday sayer, whatever you want but as far as I believe that we are far from being perfect, we need an independent worldwide currency. I'll say one more time - physical gold in your posession will be the winner in the coming times.