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To: Jurgis Bekepuris who wrote (58161)	1/23/2008 9:36:20 AM
From: Sober	Read Replies (1) \| Respond to of 118717

If we are sitting at the equivalent of late 1929, with a dollar under attach (back then gold runs were occuring on the banks which was their equivalent of diminishing the capital liquidity), and no one is now talking about how to save the dollar, then you might think that we have several years to get to the solution. It took FDR's emergency banking act in 1933 to finally solve the dollars problem. I don't hear any encouraging talk about how to fix the dollar's problem this time. So far, all we have is a very certain knowledge that there will be more and more dollars printed, only making the matter worse. Ron Paul is the only one advocating backing the dollar again with gold. And you might laugh and think that is an arcaic idea that can not work again, but I think you would be wrong. Dale may be fearful, but he may also be exercising very justifiable caution. That's how I see it. Sober

To: Jurgis Bekepuris who wrote (58161)	1/23/2008 9:50:31 AM
From: Dale Baker	Read Replies (2) \| Respond to of 118717

Getting to cash when market is decimated is the worst possible thing to do. So if someone had jumped in and bought everything they could in January 2001, where would they stand by late 2002? There is a big difference between bear markets at the leading edge of recessions and the short-term selloffs we have seen in the 2003-2007 bull. Since guessing wrong which is which this time could cost me 30-40% of my working capital, that is excessive risk for me. As for my returns, they are well documented here. Far, far above par since 1998, partly because I made it through 2000-2002 with no big losses except losing my spring 2000 spike profits.