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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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From: ballsschweaty8/16/2007 12:51:35 PM
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Goldbugs say that the miners are going down because too many people bought them for the wrong reasons. They don't understand that metals in the ground aren't worth much in a credit crunch. Gold miners are in the same boat as copper producers, steel producers, titanium producers, etc.

I hate to see the bears get taken apart in the credit crunch. Guys like Peter Schiff diagnosed the problem correctly but they prescribed the wrong solution.

Foreign equities and gold miners are getting cremated.
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