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

To: Moominoid who wrote (26026)	12/11/2002 10:59:09 PM
From: TobagoJack	Read Replies (3) \| Respond to of 74559

Hello David, I wonder as well, but the stat numbers are not important, as usual, and only the truth matters:0) Now, onward to more exciting events about to shape the truth, from today's Bill Fleckenstein: Away from stocks, fixed income was up 0.5%, ditto the metals, while the dollar was more or less unchanged. Gold has given a very good account of itself around the $325 level, whereas, in the past, if it was not making upside progress by the minute, it tended to get clubbed. I am told by friends of mine in the know that we are seeing an unusual level of physical demand at these prices, from buyers not usually active at these prices. In other words, it appears that this is not just a bunch of speculators buying futures, in hopes of some kind of breakout. What we are witnessing is real physical demand, something that gold bulls would obviously like to see happen. The gold market does seem to have taken on a different tone, ever since Fed Governor Bernanke talked about the printing press and, by implication, the sheer worthlessness of these pieces of paper called dollars. (Here's the playback of that admission: "The U.S. government has a technology, called a printing press -- or, today, its electronic equivalent -- that allows it to produce as many U.S. dollars as it wishes at essentially no cost.") Whether or not there is a true cause and effect, I don't know, but it certainly makes sense to me. Ping for Maurice, change your attitude towards the honest truth while there is still some time. Chugs, Jay