Forum Archive Index - December 2002

[nickk@quicksilver.net.nz]

Lazy Haggis 

Brilliant!  Something people here have been trying to say for months.  The 
last few paragraphs are the most pertinent I believe and I reproduce them 
here:(by the way - gold has risen from $313 - $328 per ounce this week) 

"But every cloud has a silver lining, or gold lining. You may feel that this 
month's commentary is overly pessimistic, but unfortunately, it's a sad and 
real reflection of the troubled world we currently live in. It's important 
that you at least understand some of the factors that analysts forget to 
mention when predicting how wonderful the stockmarket is once again, and 
that times ahead are looking good - that's just not correct. They are simply 
taking advantage of people's emotions in order to feed their own insatiable 
greedy appetite for more and more money, regardless of the consequences - 
but it's your money, and they should be held accountable. 

However, a weak US dollar and/or war is good for rising gold prices. If 
economic problems and global instability persist and become more widespread, 
investors will tend to seek safer havens (like gold) until peace and 
normality return. Such action would create additional demand for gold and 
subsequently push its price up even further. 

Other factors that will compound the effect of a falling US dollar and 
increasing gold price are the recent retaliatory actions by North Korea 
(dumping the dollar) against the USA for ceasing heavy fuel oil shipments, 
China opening a gold market exchange for personal investment and possibly 
introducing a gold-backed currency, and the Islamic world dumping the US 
dollar and introducing a Gold Dinar for trading purposes in the very near 
future. Year 2003 may prove to be very nerve wracking, economically sick, 
and the year of the gold stocks. 

We still strongly recommend that you should sell most of your traditional 
stocks (if not all of them) and withdraw your managed funds. Invest your 
money for the time being in safe Government Bonds, and stay well clear from 
any adviser who attempts to play cards with your life savings. This is not 
the time to believe in (or follow) the long-term long-haul culture brigade, 
who rarely consider the geopolitical situation. This is the time to get out 
of traditional stocks and shares, and sit on the sidelines for a while. 

We also recommend that you should consider investing a small sum in selected 
gold stocks. This is simply a strategy to protect your financial interests 
in troubled times - and that's what we have. When the situation reverses and 
the stockmarkets head upward bound for the right reasons in the right 
environment (which hopefully will be sooner rather than later) then our 
strategy will change, and an abundance of good first buys in traditional 
investment stocks will occur once again". 

Lazy Haggis writes: 

> I've just read the report "Every Mushroom Cloud has a Gold Lining" which 
> paints an intriguing picture, and is a bit of an eye opener considering 
> the way the world is heading right now. 
> 
> The report is at http://www.fairshare.co.nz/report15.html 
> 
> It's well worth reading. 
> 
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