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Re: Frank Pembleton post# 63781

Saturday, 01/11/2003 4:40:31 PM

Saturday, January 11, 2003 4:40:31 PM

Post# of 704019
<[Gold] preserves value in the go between periods from one currency to another. I'm sure the folks in Venezuela have experience in this.>

Damn. Is that what Samuelson's Economics textbook told you? That was NOT my experience in Colombia or Venezuela. In Colombia you have your wealth in coffee, sorgham, cattle or "fincas"(farms). Even when the currency was good (circa 1980: 39 pesos =1 US dollar) you did NOT keep your money in the banks for fear of kidnapping.
In Venezuela it was oil, cattle and Key Biscayne, Florida condos. Did you ever wonder where all their money in their major banks went before they collapsed?

Entienda,amigo?






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