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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.59

+2.2%

Dec 26 4:00 PM EST

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To: long-gone who wrote (2902)	11/7/1997 11:18:00 AM
From: Bill Ounce	Read Replies (1) of 116830

re: bullion protection from Y2K But Bill, will home held bullion protect us from Y2K? How long should it take for things to return to "normal" (what ever the hell that is)? That's a tough question. I think about it in far simpler terms. (1) Y2K government computer failures have the potential of undermining confidence in the US dollar and bonds. If that happens, bullion is better than cash. (2) The spector of international Y2K problems could cause a USA market crash. If that happens, bullion is at least no worse than stocks. (3) USA has record personal bankruptcies with a great economy. When a recession happens it will be deeper because people have over-extended themselves. Diversified savers should do much better in a Y2K induced recession. No one knows exactly what will happen from Y2K. All I'm reasonably certain of is that diversified savings provide flexibility in crisis situations. Don't know if I'd call that "protection", but it's much better than being invested 90% in stocks.

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