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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (18436)	5/29/2003 9:11:04 PM
From: sea_urchin	Read Replies (1) \| Respond to of 82318

Phil > you are far more pessimistic (you would say realistic) than I In that case I hope I don't sound gloomy because it's not my intention to. Realistic, however, I think that's good because I want to be. I try to see the game for what it is, good and bad, and I recognize that to survive one has to play as well as one can and also be lucky. There is no simple solution for anyone. All tricks are known to all players. Some will work today, but they don't work tomorrow. Rogues, thieves and confidence tricksters are behind every Bush! Everyone is trying to outsmart everyone else. So are the all the governments. Each and every government can devalue and revalue its currency as/when it sees an advantage. Likewise, each person can own any asset, even gold. So, to succeed actually depends on how well one's government, as well as we, ourselves, play. But we have to play against everyone, including our own and the US government. In fact, everyone, whether he knows it or not, has to play against the US government. Indeed, the reason I like the game so much is because it is so all-encompassing --- one has to know everything, be intuitive, be skillful and be courageous. It is as fascinating as it is challenging. My government has played badly recently by keeping SAf interest rates too high and allowing an extensive appreciation of the currency (rand), for whatever reason. It thus lost out badly in the game of competitive devaluations and local mining and export business suffered. In the circumstances, those, like myself, who held gold shares as a hedge against USD devaluation also did badly. Meanwhile, Americans who hold/held gold shares did well. The point I am making is that, other than the American banks which create the credit, there is no universal winner. And each of us has to be ready to play our hand as it is dealt, every day.