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

To: LLCF who wrote (19950)	6/17/2002 11:54:58 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 74559

DAK - ...Is that why people pay >$300 oz for the stuff? ... The only reason, other than for an goldsmith, to pay anything for it at all is an expectation as to what quantity and quality of goods that it can directly or indirectly be potentially exchanged for in the future. Regards, Don

To: LLCF who wrote (19950)	6/18/2002 12:35:34 AM
From: marek_wojna	Read Replies (1) \| Respond to of 74559

<< Is that why people pay >$300 oz for the stuff? You get nuttier ever time I glance over here.>> Relax, DAK. MW is propably buying right now gold with both hands. AS for the trader who is bullish on QCOM all the way down from $200 he simply trying to convert these shares into gold stuff at the best rate.

To: LLCF who wrote (19950)	6/18/2002 5:38:20 AM
From: Maurice Winn	Read Replies (2) \| Respond to of 74559

DAK, you can figure out the total importance of gold to the world reasonably easily. Step 1: Find out how many ounces of the stuff are now above ground in somebody's possession, then multiply it by $300. Step 2: Add up the value of everything else in the world which has some transactable value convertible to dollars, using today's market price. Step 3: Divide the second number by the first. My guess is that the rest of the stuff that people own is worth thousands of times more than the value of the gold. So, how excited can you really get about gold in comparison with all other assets? Chanting the mindless mantra that gold is good won't make it so. If speculators are lucky, they'll get a speculative boom in gold. If they are not, they'll be left holding another boring depreciating commodity, of which there are a lot. Mqurice