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Gold/Mining/Energy : Mongolia Gold Resources
MGR 21.38-0.3%3:59 PM EST
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To: d:oug who wrote (3673)6/26/1999 10:35:00 AM
From: Phil Jones  Read Replies (1) of 4066
 
Doug, the DOW is massively over-inflated and vulnerable to a pin or sharp nail. The U.S. currency moves further and further from its gold backing, i.e. fiat inflation. All that is saving the DOW and the U.S. currency is the dominance of the U.S., i.e. that many other countries base their currencies on the U.S. currency. In effect, all the other countries are inflating with the U.S. currency. That's not going to stop a massive correction. All it will take is for the U.S. economy to start flagging, and the whole pack of cards comes down on itself. All fiat currencies have eventually collapsed: Germany, Argentina, France, Soviet Union among others. And the U.S. currency is next in line. The results will be catastrophic for most, but not for those who hold shares in gold mills in Mongolia.
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