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

To: Square_Dealings who wrote (71246)	6/8/2001 7:02:35 AM
From: rolatzi	Respond to of 116815

Gold will not make a big run until the dollar turns over. The dollar will not turn over until the uncertainty of the Euro transition gets played out. The hot dirty (unlaundered) money sitting in the mattresses of Europe has been moving from the national currencies (DM, FF, IL, etc) to the dollar to avoid the problems of exchange come January 1, 2002. Perhaps it will play out like the Y2K but until that momentous date arrives, people will be unwilling to leave the dollar. I suspect that this transition to the dollar will be completed before the end of the year and probably has been going on for a good part of 2001 already. The strength we have seen in the dollar is undoubtably due to people exchanging their stash and putting these dollars under their mattresses. It would be of interest to hear from people traveling in Eastern Europe this summer as to whether the DM is disappearing as a medium of exchange from the black market. The Euro government can instantly strengthen their currency if they allow free exchange without requiring registration of the transaction. I imaging that the Swiss Franc should be profiting from this situation as well but I haven't looked into it. That said, I still have quite a bit of gold stocks. I don't want to be left out of the party when it does happen. rolatzi