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

To: Don Green who wrote (17604)	9/5/1998 10:20:00 PM
From: bill718	Read Replies (1) \| Respond to of 116764

Don, since you asked... 100% of my investment portfolio is in 2 gold exploration/mining companies....and I sadly do believe that much bigger economic problems are just over the horizon for the entire world. Why? i) government, corporate, and private debt is ASTRONOMICAL, even right here at home in N. America. The same sins that have caused many of the Asian problems have been committed right here at home. Massive defaults and bank failures are unavoidable, possibly starting in Japan where the bank debt is rumored at over $1 trillion. ii) slowdowns in the US and Canadian economies are bound to occur due to decreased exports (to nearly everywhere) and increasing competition in certain areas, particularly from Asian companies that will decrease prices to boost sales in order to survive. iii) consequently, unemployment and debt will rise here (possibly inflation also), profits and consumer confidence will fall, etc. and sooner or later the US dollar and N.American markets are likely to take a serious hit as foreign investors perceive America in a new light (particularly the Japanese who are rumored to have half the worlds cash, half of which is invested outside the country). iv) recent political instability and/or change...in so many places. Look at Russia and Indonesia for 2 examples amongst many. Just think of the threat to national security that civil unrest in Russia poses....a big reason for the IMF to be so willing to help. We even have our own smaller political problems at home now including the Clinton affair (literally!)...and the Quebec separation and Native issues in Canada, which are both potentially harmful to N. American markets. ******************************************************************* If/when the US economy does take a serious turn for the worse which I think is inevitable, my bet is that gold will be perceived a lot differently than it is today. Regards, Wayne