Zeev's Turnips Patch-No Politics (ZEEV)

[lee kramer]

Hi finananciadvisor:You may be right; but you might be wrong.How's that for certainty? I think you're right that massive creation of "funny money" over time goes hand in hand with a rise in the general level of prices. It's happened before. LBJ went with "guns & butter" to finance the 10 year war in Vietnam. Prices eventually went through the roof. The purchasing power of the dollar was awful; nobody wanted dollars. They lined up at the Treasury Window; "Here's my paper dollars, I'd like the gold promised to me in exchange. So perervasily did they request the gold that Richard Nixon closed the Gold Window on August 9, 1971. But it got worse; dollar holders the world over lined up at Central Banks seeking gold and silver. Dollars sloshed from nation to nation. It reminded me of manic musical chairs. In late December 1979 gold topped out at $875. Can it go higher? Possibly. I note that you are young, 20? This is likely the first time you've experienced and worried, [righteously] about this. I'm older. I've seen things change. Try not to worry too much.