Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Zeev Hed who wrote (36484)	7/4/1999 11:14:00 AM
From: Enigma	Read Replies (1) of 116759

I think the question of gold backed currencies is academic today - unless there was a crisis of unimaginable proportions and gold conversion was required to restore confidence. However there seems to be much confusion on this thread regarding gold as an official reserve (which it is for most countries) and gold as a convertible asset (which it isn't for all countries - thought I'm not sure about Lebanon). Gold plays such a huge part in the official reserves of most nations that to dump it, as some argue, is just not a sensible option. For the U.S. it is such an important reserve asset that it requires an Act of Congress for any to be sold!! Some also can't distinguish between a 'strategic asset' eg. oil, platinum, natural gas, wheat, copper? etc., and a 'reserve asset' which is held by a central bank. d

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next