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

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To: orkrious who wrote (13025)	5/1/2004 12:12:52 PM
From: gregor_us	Read Replies (2) of 110194

The Problem with AU in a Deflationary World + Homestake Mining in the 1930's as an example, is that I believe the US Govt. enacted measures in the 1930's which synthetically or virtually positioned the US back towards a gold standard. I thought it was conventional wisdom now that gold's outperformance in the 1930's is viewed through these special circumstances, and is not expected to "work" in the same way in the future. I can see gold working in a state of Chaos, where everything is "going down" as you say. But I have doubts about where gold winds up standing after such conditions play out. You see, I think the dollar strengthens eventually on such chaos because the money supply takes back all of its debt expansion via liquidation and debt cancellation. The expanding universe of liquidity started with Greenspans's Big Bang then collapses just like Stephen Hawking predicted the universe might collapse. I think the Argentinians and other South American Chaos examples first tried a currency other than their own, then they actually tried stocks--because at least stocks represented real assets.

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