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Date Posted: 11:15:46 11/28/05 Mon
Author: jim straight
Subject: Re: Gettin' close!
In reply to: Rattlesnake Jim 's message, "Re: Gettin' close!" on 07:59:53 11/28/05 Mon

Howdy... Gosh... Not as "slim" as I once was... And "Woody"
has enjoyed a long "golden" life.

Gold does not go up in "value." I for one am not gleeful to see the would's confidence in the currency deteriorate.

$500 or even $1000 gold is not for me; inflation such as during the 1980's and our automobile manufactures in financial trouble and those buying a house, which they bought at an inflated cost... and now or soon could find themselves with a negative equity and a higher interest rate.

Woodys nugget, found about 1980 (and gold spiked over 1,000) was then "valued" at maybe $12,000.... but what later? My house in 1980 was valued probably at $30 and nearly paid for at my GI interest rate of 6%. It is now mine and was recently valued at $250,000.

The "golden" Bulls may have the market... But it could be that the Bear will bite hard. Just remember in 1934, it was the dollar that was devaluated; the gold did not go up. We
then went of the gold standard and the gold was collected and the gold was set aside in Ft. Knox to pay our world debts. Paper money was printed and then backed by silver.
Now it backed only the faith in America.

50 years ago copper was about .24 and "moly" less than 1.00(?) Look at whatit is today

As for me. I well remember 35.00 gold, .12 bread, .03 stamp
and 1.50/month hospital/medical insurance.

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