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

To: Gary who wrote (3730)	12/2/1997 12:03:00 AM
From: Jim Ilchyshn	Read Replies (1) \| Respond to of 116815

A mindless rally? Check this out - Market Rap by William A. Fleckenstein: stocksite.com

To: Gary who wrote (3730)	12/2/1997 12:27:00 AM
From: philv	Read Replies (2) \| Respond to of 116815

Gary: It is really hard to put a positive spin on this latest release from the ONE country that epitimizes adherence to the gold standard. For whatever reason, master plan, conspiracy, or just good management, they are unhinging their currency from gold. Rightly or wrongly. And, others are bound to follow. If you are a gold bug, you will simply dig in and await the day of reckoning. It is akin to having religion. You must have faith. Against all odds and contrary to public belief. No great revelation here, but just stating the obvious that you all know to be true. About the best spin I can think of is it brings us closer to the grande finale. There will be pain and many will quit the game. Where is all this gold accumulating? There is far less than one ounce of gold per population. How many US dollars are there, or combined world currency equivalent dollars are there per population? I read somewhere that there are 5,300 billion US dollars. How many Yen, German Mark, English pounds etc. You see what I mean. Gold is a rare commodity which as A. Greenspan acknowledges is unique in that most of the gold is already above ground, in circulation, unlike ordinary commodities which are continually being produced and consumed. I believe that gold has come under concerted C.B. attack. Not one word of support (could be freely given), no announcement of interest in buying or accumulating by the C.B.'s. The opposite has happened in the most inopportune times. The result is before us, low prices with little interest from the public or anyone else to buy the metal. If market forces by themselves would be responsible for gold's present state, so be it. But the ray of hope that I harbour is my conclusion that the present situation has been manipulated. And in trying to figure out the end game, I can only conclude that someone is accumulating gold while the world is divesting. Accumulation is far easier at low prices. The POG will IMO fall even further. In the meantime, for those who remain, bloodied and bruised, lie down for a while and rest, and arise to fight again. This is battle is not yet over. Phil