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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: RIK who wrote (91133)	5/24/2001 12:49:07 AM
From: Archie Meeties	Read Replies (2) \| Respond to of 95453

RIK, re opec the reasons why it's not so easy to keep prices right where they want... vanderbilt.edu And the cheating has already begun. Who are you getting your information about energy from? Might need to change brokers... As for gold being an expensive paperweight... Should we disregard the value gold has carried for all of recorded history? Again, are you coming to these conclusions on your own? I don't share this threads bullishness for gold at the moment - I'm in no hurry to sell my long term positions, and unfortunately didn't have much in the way of trading positions as this run started. (Silver is a different matter.) But I have plenty of the stuff lying around just in case Greenspan & co. take one mistep along the way or some 3rd world country unexpectedly defaults on their debt, war breaks out, etc... All these things happen, and we've been a hairs breadth away from debt defaults that would take the US financial system down in a heartbeat (you probably don't remember Mexico near miss, or perhaps were unaware of it at the time). The gold carry trade will unwind if the spread between short term rates and gold lease rates shrinks much more. If Sept 99 is any hint, that is not a trade you want to be on the other side of.