Intercontinental Gold and Metals Ltd V.ICAU.H

RE: ohhhh stop.

[ternov]

credit crunch won't be fixed by sept. banks may need many quarters to sort this out. much to the surprise of all the market gurus out there, the US subprime situation is impacting Canada and the rest of the world. btw, these are the same guys who think growth in China will continue on forever. those that have actually been there know it is simply a ticking time bomb. I think the subprime issue is worse than the dotcom meltdown. home ownership is so widespread and for most, their home is by far the largest investment. people have also been using their homes like ATM's for years. watch what happens when all those home equity loans get declined as home prices drop. a lot of the cash in the markets is borrowed. an interest rate cut will provide some with temporary relief, but may also signal to the market that things are not all well. I'm glad GXM is financed, but costs for everything keep climbing, so they better spend their dough wisely. call me doom and gloom, but I think it's just about being realistic. I hope the institutional buyers come back as you say, but right now they are totally buried in this stock (just like me)