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ardent jd

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ardent jd

Re: Zeev Hed post# 153167

Saturday, 09/20/2003 1:18:25 PM

Saturday, September 20, 2003 1:18:25 PM

Post# of 704019
Zeev

Adam Hamilton at Zeal offers one of the better arguments for the gold bulls IMO - negative real rates.

http://www.zealllc.com/essays.htm

For those who don't want to take the time (takes forever to load and is quite verbose), I'll summarize: real interest rates (1-year Treasury minus cpi) are currently negative. As long as bond investors are virtually guaranteed a negative rate of return, especially after taxes, money will flow to gold, which at least can be expected to keep up with inflation in the long term.
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