At a bottom now for gold? Message Board

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Gold/Mining/Energy : At a bottom now for gold?

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To: Ming who wrote (1435)	7/15/1998 7:42:00 PM
From: Pete Schueler	Read Replies (2) of 1911

Ming, The worldwide asset of choice seems to be the US dollar. Any event which puts the dollar under pressure will have people seeking other financial assets. This event could be any one of those you mention. Add to your list a stock market decline or derivatives market failure followed by brokerage house and/or bank failures. Another likely cause will be the effect of gradual inflation that ahhaha has been warning about. Be assured that something will derail the dollar, rapidly or slowly. The dollar is king for now but I think there are plans being laid around the world to reduce dependence on it and create some competition. The EURO, if the members can keep it on track, will be a competitor that will have ties to gold. A similar Asian currency could evolve. Many things can happen. We have witnessed in Asia what can happen when too much investment is concentrated in one sector. The dollar is the beneficiary of the Asian fallout but it is being set up to become similarly overvalued.

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