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To: pinhi who wrote (6117)	2/11/2002 9:39:21 AM
From: Jim Willie CB	Respond to of 13815

thanks, Piney... I didnt refer to hyper-inflation though I inquired about hard asset inflation yes, gold just sits there but lately the failure of "paper-based securities" is monumental Asia alone could spark a worldwide panic, and run into gold I think that is exactly what is behind the recent gold run Japan ends insurance over $75k in bank accounts on March 31st at the same time is their annual Repatriation Rule could get dicey as citizens hunker into gold I dont think the 2000-2010 era will be normal wrt gold the Paper Chase of the 1990's might yield to the metals run in the 2000's many have seen their entire pensions vastly reduced they were all based on paper and what backs up paper???????????????? the word of the govt the word of Greenie the word of CEO's, e.g. Lay, Winnick the word of customers translation: NOT MUCH do they lie? yes do they cheat and steal? yes what do we have to back up Social Security gaurantees? almost the entire fund is spent already we have the word of the govt the word of politicians translation: EVEN LESS THAN NOT MUCH do they lie? yes do they cheat and steal? yes do they spend our tax money illegally? yes if I had put all my savings from the early 1980's into gold bars, never touched the stock market, never considered a 401k, never taken a mortgage, my life would be more secure, and my retirement would be more likely someday I think the argument in favor of continued paper asset investing will diminish over the next few years your argument against hyperinflation is an even greater argument against paper-based assets overcapacity, oversupply... where is future profitability? where is pricing power? next up on the event schedule: - Japan implosion and a spike up in USdollar - Son of Bubble in US stocks - then Broken Bubble in US$ and USstocks, Part II after that all happens, let me know how gold is doing you say $400 is possible for gold sure, by summer but what additional surprises after that will occur? my guess is a continued stream of paper failures, bankruptcies, e.g. JPMorgan Chase if the 90's were "GoGo", then 00's are to be "Panic" I think in a few years it will be clear that gold is superior to promissory-based currency systems that do little more than gyrate like manic-depressive instruments prediction: gold at $500 by 2004, and stable (with even worsening currency volatility) prediction: gold at $1000 by 2007, and climbing (with failed entire economies) / jim