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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: X Y Zebra who wrote (119)	5/15/1998 9:57:00 AM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 3536

Z, I agree with the sentiment of your post. Chip and I have discussed some of this before on another thread but it has been my opinion that the current free flow of capital and information in the global markets has become a very effective weapon in policing profligate governments. This has been a large part of the trend towards the demonitization of gold. But just because I am not a gold bug does not mean I can't see a bullish scenario for gold. The current supply/demand equation makes me mildly bullish for a return to $400. But I don't see $800 in the offing. We need to remain vigilant about government policies. I don't believe the current strength of free market ideology insures that profligate governments will be disciplined by the invisible hand. There are many in the world who are arguing to put the genie back in the bottle and control the free market so government can have a freer hand. The French have been vociferous on this point as have many of the SE Asians. Market forces have a free hand now but we need to be wary of continuing efforts to 'control' market excesses. Henry