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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Chispas who wrote (95872)	9/12/2003 5:37:25 PM
From: Chispas	Respond to of 116756

Bill Bonner on "smart money"... ______________________________________________________________ financialsense.com Excerpt: "What about gold? Who is the chump? The buyer or the seller? We don't know, of course, but trading the Dow stocks for 26 ounces of it seems almost like a giveaway; you get 26 times more for your money than you would have 23 years ago. Back then, the dumbest thing you could do was to trade the Dow for a single ounce of gold. Over the next 20 years, the Dow went up 1,100%, while the gold price got cut in half. Of course, that was a period of crisis - when investors took flight for quality. The Dow may have been cheap, they reasoned, but gold was sure. They were wrong. And now they probably are wrong again - but in the opposite direction. Now there are crises waiting for them everywhere, but they don't see them. Instead of flying to quality...they scoot off towards mediocrity, and imbecility. They take up the worst deals on Wall Street, and leave gold untouched."