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

To: Bobby Yellin who wrote (9793)	4/10/1998 7:29:00 PM
From: Don S.Boller	Respond to of 116759

Bobby: ECHO YOUR REPLY................................... "With all thy getting - get thee understanding" Best to you Goldsnow and all. Happy Holidays, whatever your faith. Don

To: Bobby Yellin who wrote (9793)	4/11/1998 12:07:00 AM
From: Abner Hosmer	Read Replies (2) \| Respond to of 116759

Bobby - Since I started this discussion I would like to clarify my point, which wasn't directed at anyone in particular, or more properly, was directed at everyone in particular. Quite simply, I don't think that the current political environment world wide or in the US will support the kind of move we had in gold 20 years ago (not that anybody asked), which I think resulted largely from the confluence of a lot of very nasty circumstances. I'll start with Asia. We hadn't gotten over the incredible disaster (human as well as political) in Vietnam, which was the culmination of an intense and protracted geo-political struggle that the US lost. China was just waking up from Moa, the Cultural Revolution, and several decades of genocide in which tens of millions were murdered by their own govt. Also, Cambodia.. We'd had all kinds of stupid things from Nixon such as wage and price controls and Watergate, and if that wasn't bad enough, we reacted (with the oil embargo in between) by electing Jimmy Carter, who gave us the hostage crises, 12% inflation, 16% interest rates and never met a dictater he didn't feel like apologizing to. Soviet armies fighting a brutal war in Afghanistan, a war which assuredly was never broadcast worldwide on television, but was every bit as nasty as Nam and worse. The Soviets were importing huge numbers of weapons and even tanks and fighter planes into this hemisphere, in addition to their death grip on E.Europe, which you may recall included the necessity of sending the Red Army into Poland. Much of Latin America was engaged in a brutal, nasty, and vicious struggle between right-wing paramilitary govts and guerillas backed by Soviet/Cuban intelligence and military/logistical support. It does not take much effort to contrast this with the world of today. The Soviet Empire has fallen and all of the Kings Horses and all of the Kings Men can't put Humpty together again. The late disaster in Chechnya and the nasty little civil war in Georgia are just very small examples of what they will experience if they try, let them elect however many communists they may. The nostalgiac road to forgotten glory will yield them only bloodshed. The young Saudi prince may not care for the US but he can have us for a friend or he can have Saddam, Arafat, and Khameni. Anybody care to guess who he will choose?.....And even the French dusted off their swords when it came to assuring a steady supply of oil... An now let's look at China. Economic liberalization, 8% yearly growth, huge amoount of foreign investment, multinationals in financing, investment, construction, communication, etc dying to get their foot in the door of this market. And how do the Chinese respond to ongoing economic problems? Further economic ( = political ) liberalization. Although everyone has adjusted quite nicely to the VAST changes in worldwide markets, not to mention the geopolitical earthquake/avalanche, we often tend to discuss gold as if somehow the context had not changed since then. The last thing I'll add is the worldwide change in communications. You simply can't have any kind of a modern society and keep the world out, ie the view of a better life elsewhere. One of the big reasons for some of the positive changes we've seen, I think. It opens up many new doors, a lot of roads and alternatives for capital.