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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: jrhana who wrote (22424)	11/27/2002 10:41:13 AM
From: newfoundland1	Respond to of 36161

Smart money is not always smart I agree but it tends not to get overexcited (either way !). The problem in Latin America has been to judge whether the Empire will rescue the situation - in their own interests - or not. Argentina goes to the wall but Mexico couldn't and it appears Brazil cannot either. I don't think everything is hunky dory in SA but overspooked and overdiscounted it may be. You probably are already aware what enormous premia you are paying for NA Golds and that so far a rising Gold price has and should continue to produce greater leverage for the SA's. (On the other hand this will hampered ironically by a rising rand.) We shall see. Just in case you were wondering, I do hold reasonable positions in HGMCY (now HMY) and GFI. Biggest position - GLG. I stubbornly refuse to pay massive taxes on my FGX profits and it looks good enough to me. Wyatt

To: jrhana who wrote (22424)	11/27/2002 10:56:01 AM
From: newfoundland1	Respond to of 36161

One further thought- what happened when the balloon went up in 1933. FDR appropriated gold. I know he was a Democrat and appreciate that these free market loving, non interfering, unmanipulative, believers in moral retribution Republicans would never dream of such a thing but things might be different when the Gold dinar becomes a reality, the Chinese end up with plenty of the stuff and someone somewhere does'nt want to explain that "deep storage" has gone so deep it can't be found any more. Patriotism might demand special measures. Wyatt