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Gold/Mining/Energy : Gold Price Monitor
GDXJ 109.23+3.7%Nov 28 4:00 PM EST

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To: Broken_Clock who wrote (17076)8/31/1998 8:29:00 PM
From: PaulM  Read Replies (2) of 116789
 
Papaya, regardless of what gold volatility brings us in the next year-- and we will begin to see volatility, gold will be boring no more--PEI's belief that the dollar is king because Ronald Reagan was president 10 years ago is not worth taking seriously.

PEI also bases its view on the alternatives--a crumbling Japan and the introduction of he Euro, which Armstrong thinks is exteremley risky.

What PEI fails to consider is why the Europeans--whose monetary conservatism has causes the DM to outperformed the dollar consistently for 30 years--would take on this type of risk unless they had to. It is precisely the fundamental WEAKNESS of the dollar, the world's reserve curency, that is shaping Euro politics.
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