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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (85133)	8/15/2007 11:39:44 PM
From: Chaka	Respond to of 110194

"gold" hasn't gone down appreciably since the crisis started. Gold derivatives (ie, mining stocks) have, they are "stocks" first and "gold" second...... The problem with this is that gold stocks typically lead the metal. Another take is that dollar (and U.S. treasuries) will be the first safe haven during periods of uncertainty and credit tightness. CBs of the world will eventually (over)react and cut rates which in turn will make gold the second safe haven, with the appropriate leads and lags of course. One such view is at truecontrarian.com (Kaplan hasn't been right in a long while but he is generally consistent with his arguments - hopefully not a broken clock!)