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Gold/Mining/Energy : Barrick Gold (ABX)
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To: Enigma who wrote (2338)4/4/2002 9:23:38 AM
From: nickel61   of 3558
 
And I don't differ. You are right. I just think that the US economy is more vulnerable to needing to keep its ocean of paper currency afloat then you do. The unfortunate outcome of this is that the dramatic increase in the amount of US currency printed can have a very leveraged impact on the value of real assets gold included. You and I are both old enough to remember the 1970s when gold went up forty times. What was that but a decline, yes a very rapid decline in the value of the currencies gold was priced in. In Canadian dollar terms the decline in value versus gold continued at an even greater rate of decline for longer. What I am saying is hey watch the global economic factors and then make a decision if that preselling of your 18 million ounces of reserves is all that prudent. Fifteen years cuts both ways.
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