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

To: long-gone who wrote (74850)	8/12/2001 10:43:41 AM
From: Rarebird	Read Replies (2) \| Respond to of 116769

In contrast to you, I have a cosmopolitan, inclusive vision for society. I reject the bashing of gays, Japan, rich people, and immigrants that contemporary conservatives seem to think addresses society's problems. I applaud the liberation of blacks and women from the statist restrictions that for so long kept them out of the economic mainstream. IMO the greatest challenge today is to extend the promise of political freedom and economic opportunity to those who are still denied it, in our own country and around the world. "Conservative" smacks of an unwillingness to change, a desire to preserve the status quo. In addition, many contemporary American conservatives favor state intervention in trade, in our personal lives, and in other areas. The radical swing toward protectionism by Perot, Buchanon, and the right wing in this country, was only a part of the sustained assault on free trade principles. I've mentioned before I do not support trade union Democrats, like Gephardt. Liberalism combines an appreciation for entrepreneurship, the market process, and lower taxes with strict respect for civil liberties and skepticism about the benefits of both the welfare state and foreign military adventurism. Planning is cumbersome in an agricultural society, costly in an industrial economy, and impossible in the information age. Markets sometimes seem shortsighted because many investors focus on how much profit they can make in a short time. But markets also give investors an incentive to look at the long term. If you invest in a factory and then let the factory deteriorate, you won't get much for it if you decide to sell it. The bond market, for example, includes bonds that won't mature for 30 years. The people buying those bonds don't expect to sell them in 30 years. But they know that if the issuer of the bonds remains solvent, they can sell the bonds to someone who will sell them to someone . . . who will sell them to someone who will redeem them in 30 years. <That the Dept. of the Treasury will answer no questions is proof there is something worthy hiding.> All it proves is that the Treasury has no respect for GATA. Have you ever been to the Comex in NY? You can buy or sell Gold there and take delivery with no problem. I've done it many times. The gold market is liquid and free. <Even those you hold as the ultimate gold gurus - CEO CFO ABX HM are bullish on gold price increases going forward! How dare you one day hold them up as grand and great then the next declare them so wrong?> I've mentioned countless times that the reason why HM had to sell out to ABX is that Thompson mistimed the Gold Market and cash flow declined dramatically as a result. HM went on a buying spree over the past few years and was mistakenly bullish on Gold. I trade the gold market on the long and short side. I like ABX because they have the best balance sheet in the business and they will survive a continued downturn in gold prices and profit tremendously through a rise in the POG. ABX is one of the most misunderstood gold companies. When you invest in a gold company, you are investing in management's ability to maximize profit on the upside and reduce downside risk. ABX(and PDG) have the kind of options that most other unhedged producers don't. PS I'm not presently short any gold stocks here heading into options expiration week. But I'll be watching closely for opportunities. I did short NEM intraday on Friday and made 3%. I covered my QQQ short and my DJU, XAU, and HUI puts this past Thursday. After the FOMC meeting, I expect good short selling opportunities to arise in many sectors.