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Gold/Mining/Energy : Gold Price Monitor

GDXJ 127.15

+0.4%

Jan 15 4:00 PM EST

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To: Alex who wrote (11822)	5/17/1998 12:58:00 PM
From: Terry Rose	Read Replies (1) of 116857

Alex, The more that the U.S. government agencies and the local media downplay the Euro the more I sense fear. Although the time element required for the Euro to compete with the U.S. dollar is debatable, I suspect it will be fairly quick for the following reasons. 1. The dollar is overvalued and the world is awash with our debt. 2. Trillions of dollars can be transferred with computers overnight. 3. If the Euro has substantial (25-30%) gold reserves then a new safe haven evolves for the hot money. 4. Euro and Japan are planning to dump dollars from their reserves. 5. The smart money knows how the game is played ie. buy low sell high. Terry,

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