To: palmer
You have a very balanced perspective, and that's good. I think we are in for some rough times because of the triple deficits (budget, current account, trade). This will take a huge hit on the US dollar and will send gold to the moon (just like it did in the 1970s). Once our government and the fed seriously address these deficits, it will be time to pop out of gold and invest in the stock market (which should have bottomed by then).
To: GodGunsGuts
The 70's are a pretty good comparison, I bought some gold then too but only because I collected coins and stamps. There is no Paul Volker on the horizon to get us out of the inflation mess that we will end up in, nor any politicians with enough sense to find a Volker. So while I think you are right about exiting gold at some point, I think the deficits will have to be "addressed" with a nice dose of inflation first.
74 posted on
10/14/2006 11:00:38 AM PDT by
palmer
(Money problems do not come from a lack of money, but from living an excessive, unrealistic lifestyle)
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