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

To: philv who wrote (8343)	3/15/1998 1:34:00 AM
From: PaulM	Respond to of 116823

Phil good post. You've touched on the undeniable long term fundamentals that caused me to invest in Gold in the first place. Regarding Another, I take the posts seriously. The substance is actually intelligent, regardless of who the person is or what they are trying to achieve. I find particular interest in Third World v. West theme. I'm a newcomer to investing but have been following politics from a very young age. Even before I read Another, I beleived the 70's could in fact be seen as a turning of the tables. A victory of the Third World over powerful Western interests that had been exploiting it for decades. The OPEC embargo caused the first real economic crisis in the Western democaracies since WWII. The estbalishment was shaken unexpectadly and the resulting spiritual crisis caused the "insider" chain of presidents--Nixon, Ford, Carter--to be broken. Instead, in the 80's the Atlantic alliance saw Thatcher and Reagan elected. The media quickly labeled them as being "for the rich" but in fact no one with real power in the media or elsewhere wanted these two in power. On the positive side, they were pro-business in many ways but were also to a large extent old fashioned nationalists. An addiontal result ofthe 70's was that the Saudis (and Kuwaitis) won a some stake in things thereafter. With Bush and Clinton its back to business as usual. But, to paraphrase Another, "history shows that those of paper wealth lose it" without understanding the loss of importance. This type of analysis might explain why gold fails to react to war, banking crises and currency collapses in the rest of the world. But jumps when the U.S. president drops his pants. From this point of view, the weakeness of gold may reflect the U.S. being the only superpower for the first time since WWII and at the pinnacle of its strngth. Gold would then be viewed as a hedge against future resistence to the U.S., economic and otherwise.