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Non-Tech : Raptor's Den
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To: velociraptor_ who wrote (6546)12/18/2002 9:54:48 AM
From: yard_man   of 10157
 
lotso elliotician's calling for this ($200 gold) -- I doubt it for a number of reasons

#1 Is the unwillingness of CBs to accept accelerating deflation (not saying they can stop it) -- only that they will be terribly agressive, e.g. Bernanke speech.

#2 Gold has already been in a fairly dramatic bear market that has seen a lot of mine closures and now demand is rising -- price has only been kept as low as it is now by the threat of CB intervention -- now CBs are no longer in that camp -- they want to raise inflationary expectations

#3 there is an expectation that asset deflation -- which we are about to experience in earnest, precludes rises in the prices of other goods, but that isn't necessarily so -- if energy prices go up -- so do foodstuffs -- people will buy gold to hedge this.
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