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To: KyrosL who wrote (68791)1/3/2007 12:13:21 PM
From: Maurice Winn  Respond to of 74559
 
Good point Kyros. But since the US$ gave up any pretence of being gold-backed, in the early 1970s, gold has gone from $35 an ounce to $600 an ounce which is 9% a year compounded.

Maybe short term interest rates would have got one there. I remember lending money at 14% at one stage.

Mqurice


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