27 April 2006


FSU Editorial: "Confessions of a Transitory Gold Bug" by George Karahalios 04/26/2006: "You must understand that this circumstance doesn’t present itself often; it is a peculiar environment characterized by large amounts of debt, ample liquidity, and grossly overvalued asset classes. It is most easily treated with a tonic of even more liquidity. I have only seen it twice in my lifetime – once in the early 1970’s, when I was too young to appreciate it, and again today. It seems to occur only at times when things are somehow 'wrong' in the world. But I’ll leave that assessment for the economists.
In my heart I know that the wise-guys, and all of their anti-gold rhetoric, will eventually be proven right. I can’t wait for that day to come so that I can rid myself of this useless relic of a metal. It’s living hell being a transitory gold bug"

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