posted on
Sep 20, 2008 12:28PM

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Message: Re: JMHO
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It seems to me that the US economy was getting sick because of the sickness in the US financial world. Banking and credit issues were making it difficult for the US businesses to carry on. No grease and business and the economy were grinding to a halt.
If they can fix the financial woes (credit issues, banking system deficiencies, etc), the US economy will do just fine. But have they let things progress too far before acting.? That remains to be seen.
IMO, the manipulation of gold prices is mainly because the western countries banking systems do not want to see gold as a competitor to the US dollar as the world's currency of choice. If inflation can be kept in check and the banking systems kept afloat, gold will have a hard time rising to the levels we would like to see.
I am watching gold prices carefully. Will there be sufficient upward pressure on the price of gold to keep the cap off gold prices? I am not so sure anymore. Gold may find a natural trading range for the next while between 800 and 900. The actions taken by the Fed, Paulsen and some of the other banking systems will have to fail in order for us to break this trading range. That or some other new catalyst is needed.
SGR can go up on it's own without a change in gold prices if they start delivering production results and their updated 43-101.
JFF7
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