I don't like any mining ventures in China right now. Anything can happen there.

If we do have a massive deflation, gold should do very, very well. This is where I think Prechter is making a mistake. He doesn't see gold as money. Gold should be worth thousands of dollars an ounce even without taking into account the massive amounts of non-regulated OTC derivatives and governemnt entitlement programs that need to be funded. Also, if all of those computer entry dollars disappear and become worthless, two things could happen. Either people will lose faith in all dollars or the remaining paper dollars will become more valuable. Either way, there will not be enough money to carry on commerce for a time. These disruptions will make gold king during that time when people are trying to figure out what money is going to replace gold. My belief is that we will return to a gold standard for a period of time, because countries will not be able to agree on anything to substitute for gold for years at least. What money is traded and accepted right now in every country on the planet? The answer is gold and silver. The money of the future is already in use. I'd like to know who, during all the chaos, is going to come up with something better. Bull