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

To: re3 who wrote (96051)	5/26/2002 9:49:21 AM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 132070

retired, >>so who wants to straighten kt out here ? Not me. <g> There certainly is risk if the Central Bankers get together and bring down the price of gold by selling their hoards. All they would be doing is pushing out in time the supply demand price for gold. My perception right now is the US and Japanese central bankers are trying to out print each other instead of worrying about the price of gold. There is a theory that now we have the central banks finished selling there is some stable price range that gold will trade, strictly based on supply and demand. BWDIK Joan

To: re3 who wrote (96051)	5/26/2002 10:45:44 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

R, one element of risk present in gold stocks versus non gold stocks as Alan Greenspan said " gold is the enemy of the welfare statist" . The gov't & bankers & public loved the wealth effect of the stock market bubble and they did much to perpetuate the bubble whereas the gov't and bankers probably do not want to have a gold bubble- too bad we're going to have one anyway due to their excesses. For me Larry Summers " Gibson's Paradox" article suggesting that the price of gold be "pegged" to maximize the effectiveness of monetary inflation is quite compelling circumstantial evidence. I believe that the price of gold has been suppressed - I cannot prove this but I believe it has occurred. The gold bull will have to fight the gov'ts and bankers but I believe gold will prevail. Mike