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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.04

+0.4%

Nov 11 4:00 PM EST

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To: Tim Cruise who wrote (4842)	12/28/1997 11:47:00 AM
From: skelly	Read Replies (2) of 116754

Tim: My MBA friend explained to me that in a deflationary period gold goes up in value because the major banking systems willall be in major difficulty as banks will loan out 8 to 10 times more than is invested in the bank. the loans are secured by assets (ie real estate cars company ious etc ) which fall in value thereby causing defaults which magnify the bank's loses. I think this is what is happening in Japan today. as a result real assets such as gold become more valuable. A word of caution : My friend was also a great believer in BRE-X. skelly

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