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

To: long-gone who wrote (26773)	1/22/1999 12:56:00 PM
From: Hawkmoon	Read Replies (2) \| Respond to of 116857

Richard, I'm an observer in this world just like most of out here. End justify the means can be translated to a lot of things, including institution a massive squeeze on the price of gold. Your end (as a goldbug..:0) is higher gold prices. Your means?? Destruction of the people's confidence in Fiat money, to be replaced or shared by confidence in your shiny metal as currency. Your "means" involve a drastic, perhaps disastrous, assault on people's net worth as the money they make will be devastated in the devaluations you create in a wild gold price upsurge. Your "means" include massive debt defaults, depressionary unemployment, and the absolute destruction of people's "inalienable right to the pursuit of happiness". Now tell me about "end justifies the means". Call me morally bankrupt because I choose to defend my economic "dream" and recognize that gold has no value unless people perceive it does. Basically, your dream of higher gold prices is my nightmare. It will destroy the economy as I've known it. It will wipe out equity prices, as well as bond prices... all in favor of gold. It will thrust the world into a depression that may take years to recover from, at a time when baby boomers ill-advisedly have their assets in equities. With a dollar devaluation in favor of the "discipline" of gold, even bonds won't be safe. So people will fly to gold and exacerbate the damage by jacking up the price of gold even more. Can you see a large portion of the total net worth of current equity and bond portfolios flying into gold and silver?? (I bet your licking your chops over that... :0) What would be the result on the price of gold?? $500?? $800?? $1,000?? Yeah... end justifies the means.... Look in the mirror.