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

To: Andrew who wrote (82365)	2/20/2002 11:05:08 AM
From: Gary H	Read Replies (1) \| Respond to of 116836

It would appear that 280 is a possibility. stockcharts.com

To: Andrew who wrote (82365)	2/20/2002 1:29:11 PM
From: E. Charters	Read Replies (1) \| Respond to of 116836

I wouldn't be that pessimistic. 291.80 is last price. This is not a bottom-falling-out trend. This bottom is firm, ripe and round. Have patience. Rome wasn't built in a day. Gold ups are long term. They spike a lot on the way, but two day trends are nothing to sweat about. If yo is feared, straddle. That is the thing to do in any new gold breakout. You have the picture of where the Euro-printing banks want gold eh? Isn't that an obvious picture? And they get all their bum boys to presage the market for them. Same thing when the English started trashing gold in 1997 to float their Euro trend and support the pound. All the sages came out of the woodwork about saying 250 gold was a possibility. They meant their spin doctors had the fix in and instructed their toadies to throw suitable fear. All this stuff was a Rothschild's scheme cooked up with gold mavens in New York. Economically we are on the depression side of things. That means more hard nose projects that make engineering sense short term and fewer pie in the sky promotions. Gold rises in depressions as does employability paradoxically. 85% of the work force was gainfully employed at primary jobs during the depression. (Not so today. Under employeds may be 30% of the economy. Bread winners jobs are scarce.) Engineering progress forged ahead, industrial capacity and consumer spending increased per dollar. Government projects increased. Confused? Was this the dirty thirties? Yes, it was. Banks squeezed money, causing deflation (austerity), but industry prospered as banks could afford to lend money and businesses could afford to pay it back. So we have the rise of the auto industry and the sale of the auto to the common man in the 1930's, a time supposed to of dire poverty. The low end people did poorly because of the squeeze on money and the lack of a social safety net. They could starve. The milk of human kindness is some scarce. With the lower cost structure after our late period of deflationary growth, this coming depression should employ the average person at low rates, but more will be employed. Business should prosper as labour will be cheap. Hopefully costs collapse soon. In this scenario, gold will rise as it buys money. When the last inflation is shook out of the american dollar it will be worth perhaps 25 cents on its value today. Then they call the greenbacks all in to prevent currency collapse and hyperinflation. Then we are into deflation. Gold in real terms should gain value. Perhaps 100% over what it is today. EC<:-}