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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.43

-4.5%

Nov 20 4:00 PM EST

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To: Real Man who wrote (96300)	11/16/2003 1:39:47 PM
From: goldsheet	Read Replies (3) of 116764

RE: collapse of the credit derivative bubble. Goldbugs should be careful because they might just get what they wish. A huge derivative or currency collapse leading to failed insitutions and markets would actually be very negative for gold stocks and eventually for gold (as you described) A little "gloom and doom" is good for gold, but a lot is bad for everything. As previously stated, I think we are going into a more inflationary environment where good old fashioned demand will drive gold up to the next level. John Kaiser has some good comments: "Any gold bug who predicts financial collapse and in the same breath recommends gold stocks is a cynical scoundrel or an irresponsible moron" "We are in the early stages of a major bull market in the resource sector that will run several years even if gold stays stuck in the $350-$400 range as it did during the nineties. If gold breaks out and establishes a base above $400, the floodgates will open. This can happen without any of the dire gold bug predictions about economic apocalypse coming true (gold stocks are toast if they do). Over the next 20 years the global economic landscape presently dominated by the United States will undergo major changes that may no longer leave the US dollar the currency of choice." "Why do gold bugs loathe the Equity Gold Trust concept? They loathe it because it is workable only if their apocalyptic visions do not come true, if their righteous indignation proves misguided and their reasoning dead wrong. The World Gold Council is sponsored by the gold mining industry, whose members make a living mining gold and desire a prosperous and stable future for themselves and their children. The fear mongering of the gold bugs is unproductive because it does not result in net gold buying by individual investors and pushes a scenario where gold miners are out of business. " MORE: investorshub.com

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