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Gene Arensberg: Big markets worry, gold market sleeps?

Section: Daily Dispatches

By Gene Arensberg
Resource Investor
Sunday, August 12, 2007

HOUSTON -- Isn't it odd that when a financial crisis threatens to get under way today hot money rushes to turn just about everything into fiat paper dollars? In something that has come to be called a "flight to cash," for a little while it seems that just about everything is being sold at the same time -- equities, commodities, even gold and silver. The odd part is that it really shouldn't make much sense to sell gold and silver during a financial crisis because gold and silver are what people should turn to when worried, not paper for crying out loud.

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