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

To: philv who wrote (20926)	5/10/2004 10:14:02 PM
From: Raymond Duray	Respond to of 81139

Hi phil, Re: Sometimes, you argue against yourself (your own admission), so how can a mere mortal like I make any sense of it? I think that my basic and consistent argument is that only when markets are reasonably regulated and more-or-less honest will true market intuition and market signals allow the superior "speculator" (meaning one who sees) have the least bit of a chance at success. As currently contrived, the markets are horrendously rigged in favor the "the house". Only fools and individuals trapped into vicious schemes like 401(k)s (many now 101(k)s) are taking the "long" side of stock trades these days. The smart money is either dumping or going short. This is true as well of the gold markets, where momentary swings are orchestrated on a regular basis by the insiders to "run the stops" and take the chips of the weaker hands off the table. J.M. Keynes opined that 'any country running its financial markets on a casino basis is doomed to disappointment'. I believe he was one of the wisest financial observers of our era.

To: philv who wrote (20926)	5/10/2004 10:18:56 PM
From: sea_urchin	Read Replies (3) \| Respond to of 81139

Phil > I don't know if it is a disdain for the concept of gold as an exchange medium Those days are past and, despite all arguments to the contrary, gold as an exchange-medium will not return except as "play-play", egold or when some clandestine deal is to be conducted outside of the banks. > the recognition and acceptance of all the B.S. surrounding the fiat dollar and its inherent dishonesty I don't get angry about that. I accept it for what it is. No, what upsets me is the myth, propagated by various messiah-like personalities, that gold is "safe" when, in fact, nothing is further from the truth. Gold is, today, a commodity like any other and, as such, has a currency-hedge quality, especially in times of inflation or anticipated inflation. Therefore, there are times when it pays to own gold/instruments and times when it doesn't. People who "play" gold must recognize they are speculating. This no-one tells them. I don't see gold as "propped-up". There is a certain steady demand for it, mainly for jewelry and a little for industrial uses and investment. The the main producers and users seem generally happy with that. When the price rises on speculation, as it did, demand, especially in the East, falls off considerably.