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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (3456)	12/16/2003 2:06:10 PM
From: Jim Willie CB	Read Replies (1) of 110194

words from Ned Schmidt on gold, dollar Gold and Silver continue to amaze all. The strength of the price action has surprised even the most bullish of us. I suppose we should not knock being right. Why do the metals continue to be so strong, and so over bought? Well, we might start with the Federal Reserve confirming it lacks a fundamental philosophy for managing U.S. monetary policy. The latest statement by the FOMC confirms that view. As long as stocks are going up the Fed thinks it has it right. We have witnessed the consequences of this attitude before. The dollar continues to devalue. The Great Greenspan Dollar Devaluation will result in the U.S., and our fellow Americans in Canada, paying a great economic price. Only the deaf, dumb and CNBC commentator does not realize the dollar is being devalued, and the serious consequences of that development. Only when inflation and U.S. interest rates are back in double digit territory will the popular U.S. media report on the dollar's problems. Finally, we have those that have just discovered Gold and Silver. Silver is now popular with those that previously liked to trade cheap technology stocks. When are the Gold and Silver markets going to correct? I still think Gold is driving the bus, and Silver is along for the ride. Gold is likely being driven by year end action. "Everyone" wants to show how smart they were by having Gold in their portfolio when year end statements are cut. financialsense.com / jim

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