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Even a 20% tax on gold beats a 100% tax on counterfiet US dollars.
-----Original Message-----
From: mavery [SMTP:mavery@xxxxxxxxxxxxxxxx]
Sent: Wednesday, July 22, 1998 3:12 PM
To: 'List, Omega'
Cc: 'Chuck "put your pants back on" Cohen'
Subject: Re: It's free margin!
>> PS. In countries like China and Russia where the markets have
>> been severely
>> broken down, gold is becoming the currency of choice. More and
>> more people
>> in these countries are trading in paper money for grams of gold and using
>> that to buy the day to day goods they need to survive. One could
>> argue that
>> this continuing trend will lend support to gold. What do you think?
>>
>
>I highly doubt it. These countries tend to turn to US dollars as their
>medium of exchange during risky times. Gold is too difficult to use in
>terms of its quality, weight, etc. The fact that they're using more
dollars
>is just another reason why the dollar should continue to rise.
>
Right. In Russia 20% tax on buy gold.
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