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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: Zeev Hed who wrote (36416)	7/3/1999 2:26:00 PM
From: Jim S	Read Replies (2) of 116758

Hi, Zeev-- I'm struggling with your model that a gold-based currency will cause perpetual inflation. It seems to me, that if an established value were set for gold (arbitrarily, say $1000/oz) and NO new gold were mined, that the cost of a loaf of bread in dollar terms would go DOWN, not up, as more people bought bread with ever more valuable dollars; eg, the same number of dollars would be spread among more people as the population increases. The increased competition for those more-scarce dollars would drive down the price of goods and services. Perhaps I didn't explain this very well, but you understand my point, don't you? jim

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