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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.76

-6.4%

4:00 PM EST

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To: PaulM who wrote (11486)	5/10/1998 3:25:00 PM
From: Crimson Ghost	Read Replies (1) of 116834

Another's thoughts do intrigue me. I have little doubt that Arab willingness to accept only dollars in payment for oil is a key factor behind the dollar's strength. But not the only one. Current US role as only superpower also very important. As are booming US markets and perceived political stability (really total dominance of the corporate and financial elite). So Arab willingness to accept Euros as payment would be a big blow the dollar, but not a fatal one. Would still be a big plus for POG though. Important to distinguish between US and US corporations. US-based multinationals have huge investments and productive capacity all over the world.

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