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To: Moominoid who wrote (63496)	1/11/2003 2:29:04 PM
From: skinowski	Respond to of 209892

In a moderate deflation bonds would seem to be the thing to hold. The price of gold should fall like everything else. In a total economic collapse gold's price has a floor based on its cost of production while other assets value is based on their productiveness. … But if there was even a moderate switch to using gold as money that would be absorbed. So in that circumstance gold may be a good idea. Interesting thought, David. I am a little “black and white” in my thinking – not allowing for a possibility of a (parallel) “moderate switch” to the use of gold as money. You may have answered my question… Got to think about it some more. (Actually, what you described would support Prechter’s scenario, where he expects first another major leg down in the price of gold, and THEN a great bull market in gold).