Re: K...sinking like lead.......!
in response to
by
posted on
Oct 24, 2008 05:14AM
The company whose shareholders were better than its management
Geez oiramoric, u sure are an optimist thinking all we have to do is wait "a long time" and our funds are going to drift back into our hands! Wish I had your optimistic viewpoint! LOL
Watching the markets throughout the night, the US dollar is soaring, Gold was down $34. at 681. at one point and the S&P 500 was Halted having gone Limit Down.
I heard what I thought was a good reason given for the amazing strength in the US Dollar in spite of the financial turmoil.
It was said granted the other Countries are in just as much trouble as the US but that people World wide prefer to hold US Dollars vs currencies of most other Countries.
Reasons given were that ...
Government not irratic, it's a Safe place to live, people not shooting at each other, no bombings and the possibility that it's a Country in which you'll more likely to find work vs the other Countries.
Also ... if u were so inclined, u would stand a better chance of starting your own business (presumably self financed of course) and most important reason given was that History shows that the US has always showed signs of recovery first vs any other Country. Hence, we see the US Dollar going to the Moon resulting in the dramatic decline in the price of Gold.
The only reason I've ever heard that makes gold move is in a US financial disaster as we're witnessing taking place, the price of gold should shoot up over and far beyond $1,000. Well ... it ain't happening! In reality it's falling by leaps and bounds.
I thought this seemed like the most logical reason vs many other reasons I've heard by relatively intelligent Anaylists, Gold Bugs, Newsletters, and many others voicing an opinion like you and I repeating the stories we hear LOL
The cut in oil production by 1.5MM Barrels didn't help the slide in the oil prices either.
If thought Kinross was low yesterday! That level will look mighty good vs what we can expect to see today! Think we all better acquire a liking for Macaroni smothered in Margarine!