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Gold/Mining/Energy : Gold Price Monitor
GDXJ 101.44+3.5%Nov 12 4:00 PM EST
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To: Enigma who wrote (36272)7/1/1999 10:04:00 PM
From: Hawkmoon  Read Replies (2) of 116758
 
Each others' currencies, bought with gold at $35 per ounce maybe - just doesn't make any sort of sense, simply hot rhetoric.

Just what the heck do you think they are doing right now??

The Fed or the BOJ, or the ECB sells or buys a particular currency in order to maintain their preferred currency target zones.

Does the US sell gold from the Federal Reserve to maintain currency equilibrium?? No. They might lease it, but they haven't supposedly sold the physical stuff.

Gold is not being supplied to countries who USED TO HAVE THE RIGHT to exchange dollars for buillion. Instead they convert their currency or a particular commodity into dollars, and vis versa.

And what would they have in place of the gold?

You are asking a question that was far better asked (and probably fervently was) back in 1971. Because since we left the gold standard, it has been nothing but floating exchange rates between currencies. They want to sell gold simply because it is a dead reserve to them, unable to be sold like their currency reserves are. It's dead money for them just like the 8,000 tonnes of gold we have is a dead asset taking up storage space and being leased out to speculators.

I mean really..... where did you learn your basic macro-economics?

Or are you just pulling my leg with this kind of nonsense??

Regards,

Ron

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