Forum Archive Index - February 2002

[hugh webber <hugh.webber@clear.net.nz>]

Well, let them have their fun while it lasts.
But its pretty obvious its only a matter of time, months maybe,
before gold comes crashing down to earth again with a mighty
thud. The higher it goes the further it will fall, maybe $200.
I prefer to miss that sort of excitement for some steady rises
and decent tax free dividends.
But gold does have its romance - I intend to fill up my greatgrandfather's
sovereign case that somehow emptied out in the Depression when it
gets right down. Then I'll be able to slaver over it occasionally like
the gold nutters. Even if it ain't worth much, it has that hypnotic golden
sheen....But there, I'm making like Steel Balls.

Been reading all the Enron material. Looks like the US has been having
its own selected and mini version of our 1987. Judge, Hawkins et al 
would have been very at home in Enron.
The most amazing thing is how a high powered big five accounting company
Arthur Andersen found nothing/said nothing over massive rigging of paper
profits through chains of overseas subsidiaries, bringing them to account
before they were realised, and shifting all the liabilities off the balance
sheet onto subsidiary partnerships.
Although my father and father and father in law were both chartered
accountants and I nearly qualified myself (I'm an economist) I'll never
look at an accountant/auditor with any trust or respect again after
reading about Arthur Andersen.
They make used car dealers look like choir boys.

cheers,
Hugh


----------
> From: jerrold poh <pohj@ihug.co.nz>
> To: sharechat@sharechat.co.nz
> Subject: Re: [sharechat] Gold up 8 dollars!!
> Date: Thursday, 7 February 2002 12:54
> 
> > Utter crap. Gold has value for industrial uses only. The gold standard
> > is long gone and it won't be coming back.
> 
> Hear hear, the only reason why gold has any value today, is because in
> the olden days, it was shiny and hard to obtain.  With this mentality
> (and the inability for people to let go of the past), we've come to the
> conclusion that gold still has value today.  
> 
> You'd just as well be better off in buying something like Titanium 
> instead, which first off, is still quite rare, just as expensive as
> gold, and still takes _alot_ of money and effort to extract pure
> Titaniutum.
> 
> 
> Jerrold.
>  
> 
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