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Gold/Mining/Energy : Bema(Bgo) and Arizona Star -- Ignore unavailable to you. Want to Upgrade?

To: John Soileau who wrote (9812)	1/21/1999 9:23:00 PM
From: donald martin	Respond to of 10482

<<in 1998 and 1999 it HASN'T!>> Dunno....equities look mighty inflated. People with dollars, for whatever reasons, have chosen to commit them to financial assets. There's enough slack to allow for occasional growth in M2 & M3 that exceeds GNP growth. But eventually, that growth needs to slow, or there needs to be greater, non-inflationary growth in the economy. I don't see a lot of political will out there to slow down monetary growth. And Clintonomics isn't going to give you sustained, high levels of economic growth. Don't forget, the rest of the world has gone bonkers over the US dollar. If you're upper middle class in South Korea, or Indonesia (not that they have an upper middle class any more), or Malaysia, or a host of other rat-f***ed countries, you don't hold your wealth in local currency, you hold it in US dollars. (for now) And, just to demonstrate how useful gold is for hedging what I like to call "Ford Pinto currencies". Go see how gold has performed over the past couple years when expressed in S. Korean Won, Malaysian Ringgits, or for that matter Japanese Yen.