Slightly OT: One perspective of what the governments are going to do to Gold Mining Stocks as a Y2K Hedgegreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
From Silicon Investor Gold Price Monitor Thread. I've thought this poster was a smart woman for some years. If she is right, you want physical gold. Central Fund of Canada would be an alternative for retirement accounts.
"To: fuddle who wrote (45041) From: ole 49r Monday, Nov 15 1999 8:10PM ET Reply # of 45115
Hi, fuddle...I have the time because my views of unhedged gold stocks is quite simple: don't sink a dime into them. The gold MINING industry is due to be highly regulated vis a vis, nationalized in global best interests, very shortly. That is the deathknell for equity values.
If you want a parallel industry example:
Check the highly regulated oil industry in the early days of the oil embargo when the "cracked products" increased went up.
Our gov't down here, at least, slapped windfall profits taxes onto the companies and retained earnings was diverted into exploration.
Paper gold is paper gold is paper gold and I don't want ANY of them, now or later.
Good luck in your portfolio of unhedged stocks.
-- ng (firstname.lastname@example.org), November 17, 1999