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Originally Posted by Bene505
[B]Both bank credit and the M3 money supply in the United States have been contracting at rates comparable to the onset of the Great Depression since early summer, raising fears of a double-dip recession in 2010 and a slide into debt-deflation.
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Bene505, nice post - these are all the reasons I don't like gold over the medium term ...
Quote:
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He predicted that the Federal Reserve and other central banks will be forced to engage in outright monetisation of government debt by next year, whatever they say now.
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... and why I adore gold over the long term.
Cash is king until we hit the bottom of the deflation, then it is gold all the way.
World-wide currency devaluation coming soon to a country near you. Just not quite yet.