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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Nadine Carroll who wrote (95711)	4/27/2002 8:25:09 PM
From: Mike M2	Respond to of 132070

Nadine, gold has mania potential be patient we could see $1,000 + POG. I have to find it but various gold-eagle contributors have referenced Frank Veneroso's study that without the influence of Central Bank sales and producing forward sales POG would be $600- 700 . I'd be happy with $350 for now -g- mike edit try Murphy of Jay Taylor in this list gold-eagle.com

To: Nadine Carroll who wrote (95711)	4/27/2002 8:31:54 PM
From: Joan Osland Graffius	Respond to of 132070

Nadine, Michael may disagree with me, but I believe we are in the beginnings of a multi year bull market in Gold. It will have some ups and downs. The reason I believe this is just plain old fashion supply and demand factors. Bob Johnson here at SI has a site and if you dig deep enough there is not going to be sufficient gold at current production costs with the current prices to meet demand. Low cost production mines are being depleted and it looks to me in a couple of years we are going to need $450/oz gold to make it worth a miners while to explore for new deposits and get a return on the investment. I think the price of gold in a given currency depends on the price of the currency relative to other currencies. This has always been true and can not see why it will change. I am sure the folks in Argentina that purchased gold during the last 3 years are better off than those that did not. We are watching the Japanese buying gold as a hedge against safety of currency deposits. The Australians that put their currency assets into gold prior to the devaluation of the Aussy$ were better off. Gold does serve a purpose, but the US citizens have been on a roll with the US$ for so long and these last two generations have not worried about preservation of assets. I suspect this will change as it always does after asset bubbles burst. Joan

To: Nadine Carroll who wrote (95711)	4/28/2002 11:18:47 AM
From: re3	Read Replies (1) \| Respond to of 132070

<<<Joan, it still amazes me that there isn't more popular revulsion towards the stock market. I too, know a number of people that are down 70% from their highs, but they are still in the market. didn't you see the brokerage commercial about the guy who doesn't even check his statement any more ? they may not all know they are down, others figure it is temporary and it 'cannot' go down much more... i know a guy who told me he was gonna sell his inherited 4 % divvie trans canada pipeline to pay off his margin on nortel...