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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Taikun who wrote (8915)	2/24/2005 5:32:11 PM
From: energyplay	Read Replies (1) \| Respond to of 11633

I get the feeling the South Korea action was a bit stage managed to push the USD down, to a level where a number of people - central banks - were willing and ready to catch it. The US dollar will need to decline, and US interest rates go up - So it's in the interest of almost every major nation to have this USD decline occur in a controlled fashion. >>>Note that this is about 1 week after the G-8 meeting. Maybe we have a stealth Plaza Accord... ******** I agree with the cash and shorts. I have only a little PM, and most in stocks. Note that the IMF is talking about gold sales for debt relief - this should keep the gold market under about $550 through the summer... ******** As Jay Chen so wisely pointed out a few years ago, a crash does not need to be a one day event...it can happen over a period of months, almost years. So maybe every 6 weeks of so we get a 3-4% drop in the stockmarket, or USD vs. EUro, etc. Won't take too long to be down 25% or more.

To: Taikun who wrote (8915)	2/24/2005 8:37:07 PM
From: johnlw	Read Replies (1) \| Respond to of 11633

FRU.un raises your refining capacity concern in their year end results: "Of great concern to Freehold is the growing surplus of heavy crude and lack of upgrading capacity, which may have a significant negative impact on the trust's price realizations due to the trust's heavier product mix. The price differential between light and heavy crude oil depends on the relative supply and demand fundamentals of each commodity, and at times is quite significant. Within North America, only certain refineries are configured to process heavy oil and their processing capacity is limited. In addition, bitumen production from Alberta's oil sands is expected to increase significantly over the next several years. As a result, markets for heavy oil and bitumen will be somewhat uncertain in the future. Supply and demand imbalances could result in the heavy oil price differential remaining well above historical averages." freeholdtrust.com JW