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


To: stockman_scott who wrote (28752)9/25/2003 11:40:54 AM
From: Jim Willie CB  Read Replies (1) | Respond to of 89467
 
interview of Equidex's Gotthelf on CNBC (gold, oil, silver)
gold is rising in anticipation of higher crude oil prices
OPEC yesterday announced 900,000 barrel daily cutbacks
all raw commodities are rising in price now
we are sure to see effects in PPI and CPI before long
alternatives to topped out stocks and bonds being sought out
gold funds are safer and a good deal now
gold miners are seeing reduced costs from cheaper financing
miners have reversed most of their hedges
they can now benefit from rising gold prices

he expects silver to plummet to $3
he cited 40% silver usage in photography
he did not bother to mention that silver consumption has risen even during the rise in digital imaging
he did not bother to mention that old-fashioned photography silver consumption is rising enormously in India and China
he sounds like he has long silver positions, and figures the public might misread this silver opportunity badly
he doesnt seem to know how to read the silver chart

smart comments on gold
altho he regarded gold miners as a homogeneous group
they are not -- some hedge, many do not
he is totally wrong about silver
we talk incessantly about India and China with their vast middle class growing
but this guy misses how their oldline photography continues to grow at enormous rates
just another deception attempted
digital imaging has been a boogeyman for 2-3 years now
BUT SILVER CONSUMPTION CONTINUES TO RISE
we have a brand new silver demand item in the equation
it is wood preservatives, to replace arsenic oxide

/ jim