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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: steve susko who wrote (52715)	6/5/2002 4:20:22 PM
From: Jim Willie CB	Respond to of 65232

South African marxist takeover is GREAT for other miners this will obviously be a massive wet blanket over all SA mine stocks as the proletariat interests are pursued, not shareholders I see several immediate effects, and a few longterm effects - profits which would have been directed to further exploration and development of promising mines and properties will now be diverted into socialist money-wasting corruption-laden fronts created for apparent good to the people (I hope some of it does end up to help the people) - decisions will be made by govt officials now, as in pointy-headed burocrats who dont understand mining or chemistry or metal/financial markets - in time, inefficiencies will build inside SoAfrican mines, with probable stolen equipment, neglected structures (maybe not, if total handsoff) - supplies of gold production will be reduced I see this as great for North American mining firms an extra safety premium will appear on our mining stocks the reduced gold supply will eventually lead to higher prices I see similar events to happen someday someyear in Latin America e.g. Venezuela, Bolivia, Chile, Peru, Argentina BUT NOT MEXICO due to NAFTA incentives, Mexico will be honoring contracts and private pooperty besides, USArmy troops are only a few 100 miles away NA WARRIES, a correction after several nice big runups and the fundamental event "attributed" to the selloff is excellent news outside South Africa I have repeatedly mentioned my disdain for all things SoAfrican mentioned black marxist seizure potential, white wealthy owners, black poor workers, likely strikes, poor conditions (130-degree heat one mile deep) this news does not surprise me in the least but it happened quicker than I expected BUY GOLD, BOYCOTT SOUTH AFRICAN KRUGERRANDS / jim