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Politics : Stockman Scott's Political Debate Porch
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To: jjkirk who wrote (5469)8/30/2002 10:17:47 AM
From: Jim Willie CB  Read Replies (1) of 89467
 
gold correlations from memory

gold vs Swiss Franc = -80%
gold vs USdollar = -65%
gold vs S&P = +50%

loose figures from memory
an article from GoldEagle last week pointed out the extremely high negative correlation with Swissy

I have to laugh at the constant attempt to value gold
when the reality is to value the papershit currencies versus real money: gold
the value of most currencies is dropping in the last year
even the Swissy
they are dropping versus the centuries-old benchmark of value: gold

yeah, PPTeam has been vigorously working
but did you notice how gold did not bite that contrived bone?
from early August to now, gold has bounced off #304-305
and bounced multiple times
so while the dollar has been pulled up to 109, gold did not fall
very strong signal for gold

USdollar will get cut off at the knees this autumn
as the economy slows
as the trade gap remains very very wide
as federal deficits escalate
as bank sector cracks lead to some failures
as Latin American debt defaults
as sabre rattling in the MidEast becomes worse
and gold will rise to challenge #330 again

this is 1970 all over again
Govt Central Bank control efforts failed then
they will fail again here soon to hold down gold
far more resources have been devoted to holding it back
but far worse fundamentals are pushing gold up now

/ jim
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