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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: T L Comiskey who wrote (19587)	5/29/2003 12:55:29 PM
From: Jim Willie CB	Respond to of 89467

sent to college buddy, suggesting stocks & bonds also he tossed out the Hunt Brother story, not fully aware of it that is the problem with gold even public stories are not properly read or studied a smart guy from Long Island now living in Vermont / jim Bruce, I hear you on a possible diversification but in 1990, did people say to diversify with stocks, bonds, and gold ? no, they said to use stocks and bonds, overlooking gold now is the time to overlook stocks and bonds and real estate, all bloated to the hilt your lack of knowledge of the 1970 gold decade needs some information the most common investment mistake is to use the past when it is no longer similar, then extrapolate to today and have it all backwards the Hunt Brothers speculated in silver in an attempt to corner the market they did so largely with futures contracts at the time, the USGovt Strategic Silver supply was about 2 billion oz the annual world supply was slightly ahead of demand so three things worked against Hunt Boys: 1. they did not corner the physical silver market 2. the Govt could dump silver on the spot market to hurt the paper longs 3. there was no annual world deficit fast forward to today: 1. the total mining short position from having sold their future production is now equivalent to between 2 and 3 years of world production 2. the USGovt in March 2002 announced the Strategic Silver supply was empty, and they would be working with Couer d'Alene for a replenishment contract in order to continue even to mint silver dollars 3. the annual silver deficit has been over 100 million oz since the mid 1990's add a few new items: 4. the USDollar now has added more money into circulation since 1995 than existed in the entire economy in 1975 5. debt at all levels in the US Economy have doubled just since 1990 6. the US Govt is running the counterfeit printing press at a rate of between 7-8% now 7. at least 60% of the US Treasury gold has been sold 8. our trade gap is now running at $500 billion, or 6% of the US GDP 9. the federal deficit is now running at $300-700 billion, depending on whether you use their accounting, or actual debt obligations which include Sochacurity, Medicare, CIA, and foreign aid 10. our USDollar is in a freefall, with no industrial mechanism to stop it (Asian offshore mfg), with no monetary mechanism to stop it (longterm and shorterm interest rates held low), and China's imports held fixed in price (currency pegged to the clownbuck) MAKE SENSE, A GENERATIONAL OPPORTUNITY ?!?!?!? / jim