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Derek, I use, best
spread going...As
for Gary North's
article, Gold is
waay far from a
bubble. Even in
our little group,
there are very few
gold investors,
most are anti gold.
None of my
friends or
relatives will touch
it, no one on the
street is talking
about it, at 550 an
ounce, it's at
about 175 an
ounce in 1980
dollars, and at
around 1.5
percent of world
liquid assets, as
opposed to 20
percent in 1980.
Markets are
forward looking,
and see that the
Fed will print
whatever it takes
to prevent
recession from
collapsing into
depression. It
appears the fed is
already buying
mortgage paper,
so if we have a
recession, it will
be forced to buy
millions of bad
mortgages or
watch fannie mae
and the entire
economy collapse
in a heap. Buying
mortgages with
newly created
cash is highly
inflationary. North
is right, Inflate or
die. The gold
market sees that,
and will ignore
any short term
resession. that
said, do not use
margin on gold
investments, and
anything can
happen short
term, so be option
use should be
very limited.


North's article was OK, but a bit too patronizing I think toward gold
investors. I personally think gold is a poor investment on its own
(expected return is zero) but a great hedge against inflation and
doomsday-like events. That's why I will have about 3 to 4 pct of it in
my holdings.

I will check out the firm you mention. Do you know if they will do it
for cash off the books?