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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Bobby Yellin who wrote (3464)	11/23/1997 7:23:00 PM
From: goldsnow	Read Replies (2) \| Respond to of 116815

Bobby, the major problem of many countries, e.g India is that their currency is not fully convertable. Thus many regular folks do not have even an ability to fly into dollar denominated assets, only GOLD! The goverements are also capricious, if you recall French action that limited French from ability to take $$ out of the country (that was less than 10 years ago!!-and they would surely do it again. With regard to Asia, and particularly Japan, once the confiscated property from bankrupt institutions will go on sale, nothing is more precious in Japan that 'cheap real estate' (ala SNL liquidations here), the flow of money from US would start in earnest. Anybody who lives in restrictive siciety (and that is a great majority of people) easily understands why Goverment cannot be trusted (a concept that eluded Americans for generations, also leading to entrenched illusion that everybody is or should be like us (that is to work very hard and has ability to change dishonest or inefficient People at the drop of a hat) You were pondering who has benefited most from the present boom. Bill Gates's increase in fortune, although enormous, in reality is to a large extent is paper increase/stock money. IMF (US) well-publisised success in Mexico, became a reality, only because of the boom. This is different, Asia is no Mexico, problems are comparable to Russia/CIS insolvency, where IMF was never and could never be successful. I believe much of the rescue money would end-up again in a black hole (that where you find real winners, of the past years- world 'rullers' and numerous opportunists close to them. They would have no hesitation to deprive their people of money. (more difficult to do with hard assets like gold or property, even in countries like present Russia) Property is easier-just raise taxes, or devalue currency) Check out who owns hard assets, such as real-estate in central London, that skirocketted in recent years. But..all good for gold, not for people who do not have money to buy gold. Also check-out India-most imortant country in a World of gold.. infoseek.com