PHLX Gold/Silver Sector (XAU)

[long-gone]

To:Pete Young who wrote (118)
From: Bobby Yellin Saturday, Jun 21, 1997 7:02 AM
Respond to of 79910

I truly enjoyed reading your thread and learning..I hope you post
a lot more frequently..for all of oursakes..
Sometimes I think I live in an emperor's new clothes world.
I am curious about the European currency...if they have such a high
level of unemployment (between 18 and 20 percent)..if they sell
their gold to reduce to their debt ..and knock down the price of gold
to get less currency to reduce their debt..what are they going to
use to restimulate their economy...it would seem that a common currency without a common language and high unemployment has a herculean task..especially if I envision the emerging countries to
trade more and more among themselves and just borrow western techniques..and clone our technology..After all...the way western
business has been going...aren't so many of the factories there
already producing merchandize that is sold worldwide...now don't they
have many more trained lower paid workers than here..with more
capital won't they start their own businesses?
I don't know but I think we still control biotech and drugs but I
don't know how the rest of the world feels about traditional medicine
anyways...