Staring into the mouth of the trade deficit: The view from Seattle

3p ET Saturday, February 21, 2004

Dear Friend of GATA and Gold:

Alex Wallenwein, editor and publisher of the Euro Vs.
Dollar Currency War Monitor, has a new commentary
arguing that quot;gold is not a good investment.quot; This is
not to argue that you shouldn't have as much gold as
you can get, but rather that it should not be
accumulated with the intent of quickly converting it
back into cash, or what commonly is considered cash.
Of course this outlook may need some modification
as consumer-oriented gold depositories like GoldMoney
succeed in the private remonetization of gold. In the
meantime, Wallenwein's point is well taken: One
shouldn't be turning gold into cash but cash into gold.
You can find his commentary at Gold-Eagle here:

a href=http://www.gold-eagle.com/editorials_04/wallenwein022104.htmlhttp://www....

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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----------------------------------------------------

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