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

To: crdesign who wrote (5113)	8/23/2002 4:51:20 PM
From: Jim Willie CB	Read Replies (2) \| Respond to of 89467

an exchange with my gold/silver coin dealer, his comments I had asked specifically about Prechter's belief that gold would suffer in a deflationary environment I dont agree, since Japan disproved that in the last 18 months besides, if the deflation force hits the banking sector, then you might see a real live bank crisis which could see both failures and bank runs if money isnt to be safe in banks, then where? gold coins, gold bullion bars, sitting in vaults / jim his reply: I see gold as the only product to protect the investor against inflation as well as deflation. Since gold is not a liability it is the ultimate protection against deflation. Imagine what the public would do or turn to in the event of banking failures or a stock market crash.We can look at the Japanese with a weaker yen weaker Nikkei, they have turned to gold. "Deflation begets inflation", as I read somewhere The govt is scared of more Enrons and Argentinas so they will create more debt which is ultimately nflationary.Don't worry about Prechter in the coming months and years ahead even the most illiterate will be convinced on gold. Buy some double eagles now! Regards, Fred