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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (46878)	12/9/2005 10:55:33 AM
From: John Vosilla	Read Replies (1) \| Respond to of 110194

Huge moves in both directions by the junior miners finance.yahoo.com

To: Crimson Ghost who wrote (46878)	12/9/2005 11:25:52 AM
From: GST	Respond to of 110194

Gold is a relatively small positional asset class -- a small lifeboat next to a large sinking ship. The price of a seat on the lifeboat will go up if the ship really is sinking as many here seem to believe -- but it is hard to really describe from a valuation standpoint. To extend the metaphor, gold is not in the same class of asset as the stateroom on the ship -- secured with debt and viewed as a great place for a drunken party. Gold is the path of escape from the ship itself. Right now gold is simply drawing a small amount of attention from drunken passengers who felt a bump in the night and considered their own safety for about ten seconds. The ultimate price of gold if panic was to set in is hard to speak about in rational terms. We have not even begun to sober up -- in fact it looks like the waiter has decided to order up a round of tequila shots to serve in February to keep everybody "happy". As the ship begins to list more noticeably in coming months, the band will play on. As for the price of getting off the ship -- who can say?