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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: SOROS who wrote (1236)	7/3/2002 9:17:06 AM
From: Jim Willie CB	Respond to of 89467

three big reasons why gold is correcting (at least miners) 1. deflation is all around us, except certain key areas some commodity areas are still not seeing bigtime price drops like crude oil, gasoline, methane gas, taxes, town services but the tech debt collapse is causing widespread liquidation bankruptcy is leading to lower cost structures, purging of inventories, etc as Puplava predicted, the debt-driven economy is suffering from serious deflation from overcapacity and excess debt 2. margin calls are leading toward many precmetal stock sales it is profitaking and preserving hard-earned gains sell the best to pay for the worst, esp with margin calls 3. suspicion over all stock in my humble opinion some still remember BRE-X in Canada and their mining scam certain gold miner stocks are very speculative in nature some highly profitable stock plays involved mines not open so profiting from mines that are not producing gold/silver, not turning a profit, no sales, seems risky in this environment just some thoughts absolutely nothing has changed my fundamental view on gold the USdollar will likely to facing what some call "a potential collapse" it has been abused for 30 years during its high years, the abuse was the worst that is PRECISELY why I expect the low to be much lower the dollar is not money !!! it is printed denominated US Treasury debt just like the WorldCom debt, it will be downgraded / jim