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Message: Gulf states considering dumping the US $ peg

Gulf states considering dumping the US $ peg

posted on Apr 01, 2008 08:28AM

 Frustrated Tyhee holders, have faith.  The irratinoal behavior of the markets over recent days, with Dow up on more and more bad news, -- like a driver making excellent time as he passes the last gas station in 300 miles, not wanting to stop and fuel up, as he's making such good time...and ignoring the low fuel warnign light.  He will clearly run out of gass somewhere in the middle of no-where.

 We, having stopped at the gas station, fueled up, and had a coffee, will drive right on by.  Making slower time, but with a plan to get to our destination.

That destination is really 2 to 3 years away, with a stock price over $10,000.  With a mine coming into production (earnings!), and with resources continued to grow through 3 million Oz, 4 million Oz and beyond.  Years later, with 10 - 15 million ounces in our Yellowknife gold belt, and a share price of $40, we will have done well during these difficult years, and the coming high inflation.  Buy, hold, don't sell.

Be confident that there is much more downside to the US $, and upside to gold. 

I am increasing my position yet again, hoping the price stays down a few more days...

 Note this interesting article:

http://www.globeinvestor.com/servlet/story/RTGAM.20080401.wgulfdollars0401/GIStory/

The UAE and some of its Gulf Arab neighbours will cut their urrencies' link to the tumbling U.S. dollar has mounted since Kuwait's move last May to start tacking its dinar to a basket of currencies.

 SKELEG

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Apr 01, 2008 11:04AM
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