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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 246.42-0.4%Jan 12 3:59 PM EST
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To: schrodingers_cat who wrote (139224)2/13/2002 12:30:43 AM
From: GST  Read Replies (1) of 164684
 
Right -- you are in the mainstream. The issue here is how hard the fed must pump up money supply to keep us from an economic face plant. In the past this engendered a bubble in stock prices. It is far less likely to do so now -- been there, done that. In this context gold takes the place of worthless tech stocks -- not a noble role to play to be sure, but one that gold is even better suited to than tech stocks were because gold has more sustainable "positional" value. People will increasingly buy gold as the price goes up simply because the price is going up. The spark that moves gold up is simply its grossly oversold condition -- a feat in part aided by the attempt of so many central banks to depress its price by dumping their golds over a long period of time and facilitating short sales while scaring the producers into hedging. Gold has no "value" -- but then neither did 98% of the most highly priced tech stocks. At least with gold you don't have to pretend it has "value".
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