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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: patron_anejo_por_favor who wrote (315518)12/8/2005 4:58:12 PM
From: John Pitera   of 436258
 
Agreed, I'm still bullish on the precious metals.

another great line from the interview......

"What risks are working in gold's favor?"

"There is a lot of financial risk in the system. The level of household debt, the housing bubble, the amount of U.S. Treasuries held by foreign central banks, the valuation of the stock market, the overvaluation of the bond market, are all legitimate reasons to be concerned, not that I wish for worst-case outcomes. Secular credit expansions, which is what we had from 1982 through 2000, are often accompanied by an ever-decreasing perception of risk. Frankly, we've been in a bear market since 2000, and people still don't realize it. Yet bear markets have a life of their own, and they really don't end until a certain psychology takes hold and people just hate financial assets.
"
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