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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (15339)	2/21/2002 1:18:21 PM
From: Maurice Winn	Respond to of 74559

ElM, well, 'balancing the budget' just means they've already spent it! So, it's still to spend. That's getting a bit pedantic. The point is, the gold is sitting there rusting and with foaming hordes of Aztecs bidding it up, they governments might as well take the suckers' money. Gold as currency backing and as part of a country's economic management is all but over. It's just another kind of metal with a supply and demand relationship which establishes where the price will be. The demand is volatile because people are more like chimps than they like to think. They are mystical, symbolic, confused and ignorant and in thrall to a jumpy limbic system and various juices which mess with their heads. So somebody tells them gold is the talisman of life and off they go, kneeling and clutching a gold cross against the unknowable Axes of Evil. Unfortunately, just like Osama's blandishments about such stuff, they are being led up the garden path and will pay for their leaders' madness. "Here, put on these Nikes - we're flying to the space ship on the other side of comet Hale-Bopp. Now, drink this to free your soul." There's a long history of sooth-saying con men leading the naive astray. Some of them use off-balance sheet partnerships! Mq