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Politics : Don't Blame Me, I Voted For Kerry -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (56959)	11/10/2004 10:01:26 AM
From: Wharf Rat	Respond to of 81568

I know this isn't a gold-bug thread, but the segue is too good to pass up... GOLD, SOON TO LOSE ITS VIRGINITY by David N. Vaughn Gold Letter, Inc. November 5, 2004 It’s often hard to grasp the concept of gold’s role in the financial world. Maybe it’s best to say that for the past 20 years or so gold lost its previous well defined role. So literally for two decades we all have grown accustomed to a delegated weaker role for what had been, in previous ages, a powerful currency & role model. Could most of us readily agree that gold has been a lost wayward sheep these past 20 years? I’ll agree to that. So, I guess the next question is can we really visualize a changing role for gold to play in the next 20 years? Anyway, that is what we are about when we write these commentaries & talk about “gold.” We are attempting to give an importance to gold that the rest of the world just refuses to share. Ever follow Richard Branson? Interesting character & very rich. To the tune of close to 3 billion dollars. Interesting how he came to acquire his fortune. A successful record company & then a very successful airline company. Reading about this fellow, he comes across as an adventurer who never really ever quite settled down but is always moving haphazardly on to a new adventure. But what comes to mind when referencing this fellow is his use of the word “virgin” as the name he chose for his business enterprise. Richard started his business empire in a hippy commune back in the early 1970s & one of the hippies thought virgin would be a hip name for their new record company. “What about “Virgin’? We’re complete virgins at business.” Richard Branson, Losing My Virginity, 1998 Anyway, Richard Branson & his fellow hippy associates were all about 20 years old & preparing to begin a new corporation that later would grow to become a 3 billion dollar empire. And the name of this new enterprise they called “Virgin.” Kind of reminds me of where gold is now & why so many new initiates to gold just do not understand yet gold’s significance. For over 20 very long years now gold has acquired a virgin status because conditions in the west have appeared to be quite prosperous & there just appeared to be no need for gold. But I believe the time is very close at hand when gold will finally lose this “virgin” status it has worn these past 20 years. If the economy suddenly turns significantly south & folks watch their paper dollars turn worthless then gold’s role as a financial life saver will be clearly understood & it will regain its time honored respect by all. And is the world standing precariously close to financial collapse? “Is foreign debt a wolf at the door?” "Right now, China's ownership of U.S. paper is nearly a third of the Chinese economy, up from about 15% two years ago. If the existing system continues, we estimate...that the total value of Chinese holdings of U.S. dollars will exceed the total value of China's GDP in five years." “The wolf may not be here. But it's coming.” By Peter Brimelow & Ed Rubenstein, CBSMARKETWATCH.COM If gold is on the brink of finally losing its virgin status I definitely want to be prepared & holding a position when this event occurs. Ever wonder what happens when a cat accidentally slips in the washing machine? “Curiosity nearly killed the cat after a kitten climbed into a washing machine that was then switched on.” “Eight-week-old Milo disappeared at Ginny Troth's house in Astwood Bank, Redditch, Worcestershire, and bedded down in the laundry for a cat-nap. But Mrs Troth unwittingly switched on the machine for a spin wash and only realised where the inquisitive tabby might be about halfway through the cycle.” “Milo could not open his eyes, had water on his lungs and was hypothermic. But with regular treatment, after about three days he had regained his appetite and was back to his playful self.” 11-1-2004, Drudge Report We talk about trends often & one growing trend is the move away from US dollars. ”Hugh Johnson, chief investment officer at First Albany, said anecdotal evidence confirms a “trend” -- in place since February 2002.” "We have been seeing a pattern of foreign investors backing away from our markets…" Barbara Kollmeyer, CBS MarketWatch, 10-31-2004 And where is the money going? "There is a much better set of reasons to be putting your money in Asia these days than in the U.S." Barbara Kollmeyer, CBS MarketWatch, 10-31-2004 I know there are those who still do not grasp the message we are trying to relate about gold here soon to lose its virginity. Read the following text from Richard Branson’s book: “As we began to make love, she started to moan & groan. She was clearly having a very erotic time. I was secretly pleased by how well I must be performing since she was panting & tossing her head from side to side as she fought to control her breathing. I put up a great show & finally…” “Then I rolled off her. To my astonishment she carried on panting, apparently having what I took to be ecstatic multiple orgasms. Just as I was beginning to feel a little bemused & somewhat redundant, I finally realized that she was panting for a reason.” “Asthma!” she wheezed in breathless panic, “Inhaler! Ambulance!” Richard Branson, Losing My Virginity, 1998 Anyway, for those who still are a little slow the point here is that gold really so far has done nothing really impressive up to this point. And gold is still by & large being ignored by the masses? Give gold a little time & it will truly show its stuff. Our world is moving forward to some very significant challenges & problems & gold will eventually show itself to be the financial hero it always is when times become truly challenging & corrosive. financialsense.com