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Gold/Mining/Energy : Gold Price Monitor
GDXJ 98.59-2.8%Nov 13 4:00 PM EST
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To: Enigma who wrote (36268)7/1/1999 6:57:00 PM
From: Hawkmoon  Read Replies (2) of 116759
 
You have a bias against gold - but seem unable to recognise that for many countries gold is still far and away the biggest reserve asset they have.

Just as you have a bias for gold.

If we all thought the same way, there would be no point in having this thread or debating the issues.

Frankly, I don't care if people want gold. If they do, then so be it. Who am I to tell them what they can have or not have??

But because 14 years supply of gold is residing in vaults under control of CBs, I say sell the stuff into the market and establish gold's price as a commodity (which it is!)

People can take out loans on a NUMBER of commodities. Oil is used as collateral. Houses are used as collateral as most people know. So should the gov't buy up 14 years worth of housing demand to support the price of residential dwellings?

Just because people have there loans collateralized with a commodity, they should be hedging against a declining value in that commodity (which most are doing through options).

Why are you so against retraining gold miners to undertake more productive and wealth-creating occupations? Don't you think that many of them aspire to something greater than risking their lives in mile deep mineshafts (at least in Africa)??

I can think of a multitude of more productive occupations they could be employed in.

Regards,

Ron
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