They Called It Right (These eight experts tried to warn Wall Street about the storm.)

Kiplinger ^ | December 22, 2008 | Elizabeth Ody

[Ruy Dias de Bivar]

***Gold was a refuge from inflation, which was running at 13%. ***

Gold went up BECAUSE of the hostage crisis.

In times of political crisis people gravitate to gold and silver. When things settle out gold drops.

[Aquinasfan]

I see depression for atleast ten years, Argentinian style government policy.

That's a real possibility. It's a perfect storm, with the Dems taking control of all three branches of government at a very inopportune time. Actually, it's reminiscent of the events leading up to the Depression.

[editor-surveyor]

Roubini and Schiff made ggeneral doom predictions recently, based on recent events and data, but Bates predicted the entire structure of this in the early 90s and predicted the failure for the end of 2007 in 2003, missing it only by a few months. He also predicted that the recovery from deflation will be feeble, and will ultimately fail because people will not trust the inflationary model any more. In other words, the Dollar will be the last of the major currencies to fall, but it will fall completely.

[VaBthang4]

Do you have more info regarding Larry Bates? Any links on him?

[KellyM37]

ping