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

To: GST who wrote (86620)	9/20/2007 12:41:04 AM
From: CalculatedRisk	Read Replies (2) \| Respond to of 110194

They have long memories. I remember when I was there in '79, everyone was buying gold - literally - I would walk down the streets of the little towns, and people were heading into the gold shops ... they were putting their life savings into gold bars. It was pretty amazing. Of course, unless they sold soon thereafter, they suffered massive losses. I doubt they will be too excited about a repeat of that experience - even if it was the correct thing to do. Once burned, twice shy.