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Gold/Mining/Energy : Gold Price Monitor
GDXJ 94.04+0.6%4:00 PM EST

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To: goldsnow who wrote (28262)2/14/1999 10:58:00 PM
From: Hawkmoon  Read Replies (2) of 116764
 
Seems to me the only argument is gold low?
Are blue chips high?


Goldsnow,

I can certainly agree with the merit of your argument. Stocks are certainly overvalued, at least the big caps. Most of the small caps are dreadfully undervalued relative to their earnings growth.

But what galls me about Richard is that he thinks he can present just a small fraction of historical data to support his flawed argument.

He is a worshipper of gold and would pray to his "golden calf" no matter what anyone says.

Now the question is how gold reacts to deflationary pressures in the financial system. We all have a lot of experience with inflation (except the wee youngsters out there..:0), but we haven't seen global deflation since 1927-9.

Regards,

Ron
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