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At 04:46 PM 7/19/99 -0600, gary bodnar wrote:
>Gold has no value these days..
>Industries have no use for that expensive metal.. and who want to carry a
gold
>bag on the neck??:)) Seriously, only downside to the Gold is the gold
>miners as well as who's long now..
Very soon we would have to pay for the gold disposal as you do for the
garbage. Gold stocks are not worth the paper they are printed on. England
selling gold. Switzerland selling gold. IMF selling gold. Gold is going to
be deleted from periodical table. Humanity will abandon its 10,000 years
habits.
Where were those people when gold was $800 per ounce? Did they took
advantage of the opportunity?
The sentiment is about right for the end of the bear market in gold.
Especially encouraging is sale of the gold by English government. If any
one care to check history, English government has uncanny abilities to sell
precious metals at the bottom. (Look sales of silver in the beginning of
century).
In any case Hecla mining is $2 per share. It is 80 years old company. Could
it disappear? Yes, companies as people do die. But if you take a chance I
guaranty you your losses will be limited to only to $2 or 100% of your
invested capital.
Just a thought...
Yours, Alex.
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