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Gold/Mining/Energy : Gold Price Monitor
GDXJ 121.17-7.0%Feb 5 4:00 PM EST
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To: Hawkmoon who wrote (43620)10/23/1999 7:52:00 AM
From: Mark Bartlett  Read Replies (2) of 116972
 
Ron,

<<There are only two global reserve currencies, the dollar and gold.>>

And therein is lies the reason why Asia and Europe will not give up gold until they are comfortable their currencies can compete with the US dollar. And even then, as that equilibrium approaches, I see gold's role becoming more important again. The rest of the world does not necessarily want to be handcuffed to US dollars in perpetuity.

Perhaps this is easier seen and appreciated from the outside looking in.

MB
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