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To: craig crawford who wrote (16894)	8/27/2001 7:39:34 PM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 52237

Craig, >>i don't think gold does well during a depression. I can not see in the future, but I think you will find homestake mining was one of the best performer stocks during the 1930's. Joan

To: craig crawford who wrote (16894)	8/28/2001 8:58:52 AM
From: Terry Whitman	Respond to of 52237

Message 15635964

To: craig crawford who wrote (16894)	8/28/2001 8:10:21 PM
From: Davy Crockett	Read Replies (2) \| Respond to of 52237

Craig we have had this discussion... Peter L. Bernstein (author of “The Power of Gold”) ISBN# 0 471 25210 7 “…As each currency broke away from gold and was devalued, a unit of each currency bought less gold than before – that is, the price of gold went up…In contrast, the prices of goods and services in all countries had fallen by substantial amounts. The result was that an ounce of gold in the mid-1930’s could buy twice as many goods and services as that same ounce could have bought in 1929 pg. 323-324 Message 16046377 In deflationary monetary conditions Gold holds it value, unlike fiat currencies. Who am I to argue with Gerald Loeb "Gold shares are devaluation hedges Terry made an excellent point.. Combine that with lower production costs, and miners should benefit greatly Main reason I hold shares of miners. Regards, Peter ...oh, BTW, if my thesis turns out correctly, you will wish that April 4/2000 was the bottom