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

To: philv who wrote (19701)	12/1/2003 2:48:04 PM
From: sea_urchin	Read Replies (2) \| Respond to of 81234

Phil > The cute little gold buggers are all holding hands and dancing derisively while sticking their tongues out this morning. Yes, they must be very happy now that they are entering Goldbug Heaven. And one can just imagine how happy all the Prophets are. Nevertheless and jokes aside, it has happened and I, for one, didn't believe it would. > Will it last? Maybe it is true that the BIG GOLD BULL has only just begun. I am certainly not in a position to say either way. But I do know that the reservations which I had previously are still real: 1. The market is being driven by intense speculation with derivatives and not by the purchase of bullion. 2. Actual gold sales have fallen year by year for the past few years. I do accept that, notwithstanding the great US "boom" and historic "growth" rates, there is very bad sentiment towards the USD and the US economy, itself, which is, as we know, driven by unpayable debt. Accordingly, I cannot see what could possibly prevent the USD from falling further and, with it, a corresponding rise in POG and Euro etc. Still, I have learned through bitter lessons than whenever a market seems ABSOLUTELY set for one particular course of action it invariably turns around and does the opposite. > debt and more debt. It seems to be a universal problem. I can't help but think this will all end badly Especially for the little people who borrow and can't repay --- but for the US, who knows? One can certainly see the game the US is playing, and it isn't a nice one. Increasingly, if things remain as they are and, particularly US foreign policy, most nations will move away from having relations with and doing business with the US --- and who can blame them.