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Gold/Mining/Energy : Gold Price Monitor

GDXJ 90.35

+0.4%

Nov 6 4:00 PM EST

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To: John Barendrecht who wrote (213)	7/5/1997 7:22:00 AM
From: Bobby Yellin	of 116753

I sit in amazement...wonder what effect the drop on gold prices will have on the Australian tax revenues.... I really think we are witnessing the transfer of economic power from the west to the east.. if wealth was being distributed more evenly in the USA and unemployment wasn't high in Europe I would say all is well and what a smart move...why back up currency with a non printable...but because I don't see this to be the case and I see a potential calamity if the market crashes and peoples' retirement funds crash with it..who knows..maybe the tax code will be rewritten and the middle class will be bailed out that way... the article about China defending the dollar for HK's sake...I don't quite know how that is different from a house of cards....also people who are in the markets to make money think money...not other people's welfare...interesting times...

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