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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pogbull who wrote (218905)2/5/2003 10:32:18 AM
From: Tommaso  Read Replies (1) of 436258
 
I think what we see in gold coins and bullion is the reason that the US and other countries went off the gold standard. If dollars were literally "good as gold" everyone would try to acquire and hoard dollars and refuse to spend, business would slow down, and there would be terrific deflation. I find that the higher gold goes, the more I feel like keeping the coins I have in my safe deposit box.

This may be an argument for owning the producers' stocks, if hoarding of gold really becomes a world-wide obesession.

But who can predict manias and panics?
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