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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Jim Willie CB who wrote (52262)5/29/2002 11:03:56 AM
From: Jim Willie CB  Read Replies (1) of 65232
 
CNBC bond pit comments on gold were indicative of ignorance
that really sharp Italian Stallion guy is one of my faves
Rick Santucci is very adept and thorough, with charisma
(as most Italians do, almost as much as the Irish)

but today he showed his limits with gold comments
he said gold discussions were making their way around the "pits"
bear in mind that GOLD competes directly with USDollar, and the dollar is the flipside of a US TBond bearing interest
the dollar is thus a debt-backed instrument
while GOLD is a hard asset

Santucci said GOLD is regarded as offering little, bears no interest, just takes up space, according to bond pit guys
even a 3-month TBill offers a 2+% yield

earth to Rick: subtract taxes and inflation and you get zero real rate of return
which is Golden Reason #1 why gold is rising

all they have to do is check Gold Index versus S&P, versus TBond principal, versus Naz100
Gold is winning over every major investment vehicle, bar none
get it? "bar none"

a radical revolution is underway, whereby financial paper assets are being shunned, sold, sullied
in favor of hard assets where debt collapse resolution takes no toll

this is extremely typical of very early embryonic stages of a new GOLD RUSH trend unfolding
it has doubters everywhere
I find GOLD to be ridiculously misunderstood
often even by PhD's in Economics

gold is heading past $1000
/ jim
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