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To: John Pitera who wrote (53568)	7/28/1999 4:51:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 86076

if ever there was an out-of-favor group, the gold stocks are it.this would suggest that they make for a good contrarian bet. but what if gold is really dead forever? in that case the industry would simply disappear, much like the producers of stage coaches and builders of turnpikes did. however, considering the house of cards in the form of massive derivative positions, bloated stock markets, credit bubbles and 'fiat' currencies which is the global economy's base, the contrarian case for gold can certainly be made. not to forget the 8,000 tons of gold that are supposed to be sold short.if a BK were to happen, it would probably wake gold up. but short of this it is really hard to see what will. in other words, if one bets on gold and gold stocks, one implicitly bets on the BK.