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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.68

+5.0%

4:00 PM EST

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To: Bobby Yellin who wrote (9188)	4/2/1998 7:45:00 PM
From: Crimson Ghost	Read Replies (6) of 116753

Bobby: Let me throw this idea out for discussion. The Asian crisis was, of course, initially bearish for gold. It induced heavy gold sales in the orient and strengthened the dollar vastly. But the crisis will be very bullish longer-term because it will vastly accelerate the development of a new international monetary order not totally dominated by the greenback. The costs of allowing currency speculators (mainly US hedge funds) to do whatever they want are becoming too great for many countries to tolerate. And with the Euro coming down the pike (probably heavily backed by gold) the dollar is going to be taken down a few pegs at the very least. Comments are welcome.

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