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Gold/Mining/Energy : At a bottom now for gold? -- Ignore unavailable to you. Want to Upgrade?

To: Mark Bartlett who wrote (1745)	9/30/1998 1:56:00 PM
From: ahhaha	Read Replies (1) \| Respond to of 1911

ML sees that the era of intrinsic deflation is over. Ended 9/1/98. They also see that concerns mostly unfounded about the "great debt threat", could scare central banks into strong money creation just like what the FED has been doing for months. Gold is correlated to the difference in money growth minus productivity. That difference is expanding rapidly. At the same time the central banks are stopping gold sales. They aren't doing it for inflation reasons, but for distrust reasons. Then there are many gold companies effectively hedged or short gold. The hedge fund shorts in gold are minor. It's too illiquid of a market to go big time. You have to be involved in securities that represent world trade for those shenanigans. You need scale to be relatively small with $1 billion. If ML just started covering, wowwee. The short term gold move is almost over. The time to cover will be in several weeks when the price engages a re-test. But who can wait for that, if it happens?