Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: marcos who wrote (14842)	2/11/2002 1:50:31 AM
From: AC Flyer	Read Replies (2) of 74559

>>To use gold as money you can just simply use it<< Fine in theory, very difficult and impractical in practice, for a host of reasons. >>In a previous post you say if the PoG rises then so will production .... well sure, for a while ... then where will producing majors get their reserves? .... they've been creaming them in the low-price environment, every day bigger holes in ground and less metal ... gold is quite rare on this planet<< Unfortunately that's just not true. The higher the POG, the more gold is economically recoverable. Supply will inexorably rise with rising price. >>In another post you ask what caused PoG of 800US in 1980 ... speculation, that's what<< Also not true. Speculation probably caused the blowoff to $800, but the initial momentum was created by high inflation and a 25% collapse in the value of the US$. This was explained very well by another poster a couple of posts ago. These conditions are conspicuously absent in the US today.

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