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

To: Abner Hosmer who wrote (4977)	12/31/1997 11:42:00 AM
From: PaulM	Respond to of 116753

"With Luck, We may pull through." And I might add, without luck, we won't. That SOROS is acknowledging that world-wide financial collapse can be avoided only with "luck" has, I suspect, not yet sunk in given equity market behavior these past days. As he mentions, it all depends on how much bad debt there is, that debt being mostly a private creation. Let's also add that indications are there's much, much more bad debt floating around in Asia today than in Mexico (1994-1995) or Latin America or amongst the S&L's (1982). All of this is very strong for gold. The decline of the past days is mostly the result of irrational exuberance in the equity markets which will disappear quickly. Finally, putting aside the wisdom of mega-national institutions running our lives, there's a decent chance these internation will ultimately wake up and embrace the gold in an effort to restore confidence in the global monetary system. Makes too much sense perhaps. But the east block and China ultimately relented on the communism thing, didn't they?