Gold at $1,000 an ounce

February 20, 2009
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The gold hawkers are right, at least for now. Gold has been a better investment than stocks, bonds and other conventional places to park moneyâ??hitting $1,000 an ounce today.

That signals investors are nervous about prospects for the economy and mainstream investments, says Courtenay Stone, a Ball State University economist and former official at the Federal Reserve Bank of St. Louis.

Investors are worried about the sliding economy and paying off the $1 trillion-plus stimulus, Stone says: â??Itâ??s kind of an investment of desperation.â??

In a few years, inflation will roughly double from the 2.5 percent typical of recent years, Stone believes, but wonâ??t approach the 10 percent or more experienced in the â??80s.

How do you feel about the economy, and about gold as an investment?
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  • And 6 months ago oil was at $140 a barrel with experts predicting $200+. What goes up must come down. Gold was a good investment 6 months ago. But who knows when it will come crashing down. After it hits $2,000 an ounce or $1,001 an ounce.
  • on a similar note, the Japanese are most likely cleaning up well. Aparently their sewage yields more gold than top mines. go to yahoo and search (with quotes) Japan sewage yields more gold than top mines.
  • Must be hard on the local jewelry stores...

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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

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  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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