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Gold/Mining/Energy : Barrick Gold (ABX)
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To: russet who wrote (3034)5/22/2002 11:01:21 PM
From: nickel61  Read Replies (1) of 3558
 
Wake up my friend!During the period from 1833 till 1970 gold was convertable on a fixed basis with the US dollar, of course the gold price seldom changed except to devalue the US dollar. Are you planning on making some new investments in the 1950s? We are talking about the world today and your arguement is silly for the period since gold no longer provided backing for the US dollar. The dollar has tanked or another way of saying that is the price of gold in US dollars has gone up eight times.
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