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

To: Freedom Fighter who wrote (58623)	5/5/1999 2:29:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

When companies like PDG steadily bring down the cost of producing gold, you wonder what can hold it up other than speculation. But if speculation can hold up electronic entries labeled "Ebay", it could happen again with gold. Silver seems more like a case of a useful commodity beginning to run short. More people have lost more money on silver for the last 20 years and more than on almost anything else, however, as the oversupply has gradually dwindled. It may be undervalued a good bit because of this--making me think of the lady who made a laquer screen out of ornate stock certificates about 1934 because they were so pretty to look at. After WW II ended she began to receive dividend checks for her piece of furniture and eventually got a pretty good income from it. I don't know if she tried to sell. So many silver producers have cut back or shut down that there could be a real squeeze, whereas there are still hoards of gold held purely as a supposed store of value. Nevertheless, I, too, hold a small hoard of gold coins in a safe deposit box and own some ABX and PDG. I guess my daughter will decide what to do with the gold. Maybe I could auction it off on Ebay!

To: Freedom Fighter who wrote (58623)	5/5/1999 4:14:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 132070

Wayne, <<So that even if the gold bugs are right in the long run, I suspect that anything and everything will be done to depress its price in the mean time to advance the agenda of fiat money and protect all the short positions etc...>> I agree with all you stated, however, i have tried to go one step beyond. -g- the outer limits of speculation if you will. The spread between xau and gold has sharply narrowed this past few weeks. Why? Volume has also been very high on the xau leaders. i suspect that the "shorts" are hedging their shorts by going long xau, specifically the liquid majors....NEM, ABX, PDG, HM. If they lose the gold war, they win anyway by being in the xau ahead of the crowd. Thoughts?

To: Freedom Fighter who wrote (58623)	5/30/1999 7:20:00 AM
From: Earlie	Read Replies (1) \| Respond to of 132070

Wayne: I agree fervently with every one of the points you raise. They will work at this with a passion. It wouldn't surprise me if they managed to keep gold depressed for a long time, but I still like the idea of a bit of speculative gold in my account as a hedge against a totally mad U.S. dollar. The trade deficit and the debt (both international and consumer) worry me. It is a situation that could continue, but it is also one that could blow up in a nano-second. Best, Earlie