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Why Gold If Deflation is the Threat?

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DEFLATION AND GOLD
"The value of our obligations is greater than the value of our assets, which is to say the equity value of the economy is negative," Winkler writes. "The best proxy for that is the stock market. Stocks aren’t going to zero. They have option value. But a 90% fall from the peak is what I see happening eventually."
SOURCE:   Reuters

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