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Bob Hoye, an earth scientist by education and an historical market analyst by profession, tells Jay Taylor why the current credit contraction and global recession is extremely serious. He notes that there have only been five other such incidents in the last 300 years and that this may be the most serious of all. The last such event was the 1930s Great Depression.
Identifying the current landscape from an historical and technical perspective, Mr. Hoye then tells Jay’s listeners that gold always gains purchasing power during these credit contractions as market participants shun increasingly w
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