Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Gary H who wrote (19187)	10/2/2003 12:41:24 PM
From: philv	Read Replies (2) \| Respond to of 81996

Different subject, old one: They are going to release a report on the Iraq WMDs. Apparently it will say they have found nothing......yet. But it will state that Iraq was actually thinking about them. Good enough for me. They may not have had any WMDs, but they were thinking about WMDs.

To: Gary H who wrote (19187)	10/2/2003 2:20:02 PM
From: sea_urchin	Read Replies (1) \| Respond to of 81996

Gary > So where does it go from here? I guess it all depends on who you ask. If you ask a goldbug he will tell you that gold has made a major secular reversal and is now on its way to $400, $500,$600 etc. Just a matter of time. I think you know my opinion, which I have expressed many times previously, that what we are looking at is a speculative run in the gold price and gold shares based mainly on paper instruments and driven by fears of USD devaluation. I am not particularly impressed by the mythical 15,000 tonne short position of the bullion banks nor by excitement, which I read round the place, that every Chinaman is shortly going to be buying a one ounce gold coin, both arguments which I have heard for years and without actually seeing or hearing any real evidence for either. You speak about the pennant formation in the gold price chart and I agree with you. In fact, as far as I am concerned, if there is anything "fundamentally" bullish in the gold price it is the pennant and also that the uptrend, which began in early 2001, has not been violated. So, if you are a chart believer you are obliged to remain in, come what may, until either the pennant or the uptrend has been violated or both. And, if you do, you can then allay any anxiety which you may have by thinking about all that "missing" gold which has to be bought in or else about 500 million Chinamen lining up outside their bullion supermarket each to buy a one ounce gold coin. And I'm not forgetting the $7 trillion US debt which can never be paid off and can only increase. And, if it makes you happy, you can also throw in an "end of the world" scenario, with the ghosts of bin Laden and Saddam Hussein etc etc, just for good measure.