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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Earlie who wrote (31231)	8/18/1998 11:32:00 AM
From: Ralph W.	Read Replies (2) \| Respond to of 132070

Earlie - I was perversely cheered by your response to Chris' question. Like yourself I too have been wrestling with this problem for a long time and also haven't come up with a solution. I do have this dim memory (from reading about it a long time ago) of Bernard Baruch sitting on a park bench in Central Park during the crash with a valise full of gold (must have been certificates, dont'cha think?). On the other hand, I've kept a newspaper from '87 and note that gold stocks were battered along with everything else. But, of course, '87 was a different scenario than '29. Ralph

To: Earlie who wrote (31231)	8/18/1998 12:04:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 132070

<<'ve never liked gold. Always thought it was a mugs' game. Starting to rethink that point of view. If the U.S. dollar gets hit (and that is inevitable from my point of view), then gold's lustre returns. Asians holding gold when the firestorms hit survived. >> More or less the same here. I too think that gold can regain its lustre for several reasons: 1) has been beaten-down so much lately, even WSJ ran an article last week that gold is no longer a safe investment. You know the significance of such articles. -g- 2) at least part of "big" money will be shifted to gold while the currency turmoil unfolds. I don't think the game is over until the dollar tanks against Euro or Swiss Franc or some other stable currency (is there one? -g-) 3) at least a couple of central banks might realize that current world crisis is due to the inept handling of the currencies and foreign exchanges which are backed by nothing but their incompetence. And hence they may start buying gold rather than selling. Of course, my view would be biased since I am already loaded-up in gold stocks. -MMV