On 8 May 2001, at 14:23, SnowDog wrote:
> Speculative mania, spurred by abolition of the law disallowing
people from owning gold, in 1972, drove the price of gold to
astonomical levels, which had to fall...
Craig,
It was indeed a mania, similar to the recent high-teck bubble. But
the trigger was a major loss in the purchasing power of the US
dollar...or if you prefer a decade long of high stagflation.
Claude
http://www.goldcurrencies.ca
http://www.ormetal.com
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Claude Cormier Public Key
http://www.ormetal.com/PGPkey.html
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