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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: Wade who wrote (28157)4/19/2011 9:10:02 AM
From: carranza21 Recommendation  Read Replies (1) of 48092
 
Richard Russell in his latest makes the following statement which I think encapsulates things fairly well:

A clearer picture is seen in the precious metals market. The bull market in the precious metals is underscored by the ominous weakness in the Dollar Index. I say "ominous" because the dollar weakness is setting off international demands for a new reserve currency. If the US dollar loses its status as the world's reserve currency, it will be a disaster for the US, which can print "money" in the same currency that it's debts are denominated in. If the US has to borrow foreign currency to cover its debts, interest rates will head higher. Once the US mountain of debt is subject to rising interest rates, the game is over, and the compounding cost of carrying the Federal debt will throw the nation into virtual bankruptcy, an emergency that the US can't print itself out of.
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