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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Earlie who wrote (168237)5/25/2002 6:25:00 PM
From: Joan Osland Graffius  Read Replies (1) of 436258
 
Earlie, >>shorting gold is like swimming across an everglades swamp at night..... chomp, chomp chomp. (g)

I think this younger generation has watched gold for the last 20 years and "knows" the metal has no value and believes the folks buying the stocks and metal are "gold bugs" that will get taken to the cleaners soon. I bought some HGMCY for my daughters IRA and she thought her mother had totally lost her mind. This little rascal has gone up in value 200% and she still thinks it is a flash in a pan. This generation has lived with fiat currencies that have worked during their life time and do not know any different, and our schools and press have not done a reasonable job of educating our public of what it is like in countries where currencies have collapsed. My father did a good job of educating me what the great depression was like, but I did a poor job of sharing this information with my daughter.

I have no idea where the yellow metal will go, but so far it seems like people across the globe are using it as a store house of value.

Did you notice that both China and Russia are selling US dollars and buying gold. Sounds like China is also buying Euros and Yen with their US dollars.

Interesting times,

Joan
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