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Gold/Mining/Energy : Precious and Base Metal Investing

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To: LLCF who wrote (12944)	6/24/2003 8:25:35 AM
From: austrieconomist	Read Replies (1) of 39344

All statistics should be reviewed in context. 7% growth may sound like a strong growth rate but, from examination of the past, it is not. research.stlouisfed.org My belief is that the 8% MZM growth rate in effect in 2000 was not enough "juice" to float the over leveraged U.S. economy. Only a 20%+ MZM spurt was sufficient to forestall an immediate and severe recession (it has only postponed it). If 8% was not enough in 2000, with more debt added at all levels (government, corporate and individual) then much more than 8% MZM growth would be required today. This is not a gold timing analysis. What I am saying by the previous post is that I would be willing to "mortgage the farm" in my PM stock positions if I saw a wholesale commitment by the Fed by ITS ACTIONS to an inflationary policy. The Fed has only been jawboning in recent months in an effort (miraculously successful so far) to bring down long term rates. Gold can go up whether there is inflation or deflation because of its unique quality as money. AE

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