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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: craig crawford who wrote (16894)8/28/2001 8:10:21 PM
From: Davy Crockett  Read Replies (2) of 52237
 
Craig we have had this discussion... Peter L. Bernstein (author of “The Power of Gold”) ISBN# 0 471 25210 7 “…As each currency broke away from gold and was devalued, a unit of each currency bought less gold than before – that is, the price of gold went up…In contrast, the prices of goods and services in all countries had fallen by substantial amounts. The result was that an ounce of gold in the mid-1930’s could buy twice as many goods and services as that same ounce could have bought in 1929 pg. 323-324
Message 16046377
In deflationary monetary conditions Gold holds it value, unlike fiat currencies. Who am I to argue with Gerald Loeb "Gold shares are devaluation hedges

Terry made an excellent point.. Combine that with lower production costs, and miners should benefit greatly Main reason I hold shares of miners.

Regards,
Peter
...oh, BTW, if my thesis turns out correctly, you will wish that April 4/2000 was the bottom
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