< Please give an example in ordinary, day to day, life where gold is used as a currency in 1999.>
The dollar Gold price is an exchange rate. That is to say, Gold is traded daily as a currency. It's lease or interest rate, insofar as it is higher than the Yen, is revealing the fragility of Japan's economy. The Gold Carry Trade pays homage to Gold as a currency.
What do you mean by "ordinary?" The financial markets treat Gold as a currency at every moment during the trading day. Gold Bears, like Ron, would like to see Gold completely eliminated as a currency because their petrified of its power during periods of global financial crisis.
Moreover, I think that Ron( and Hutch) has a much better understanding of the nature and function of Gold than most of the Gold Bugs on this thread. I find Ron excessively over-confident in the CB's of the World, as Divine Mechanics, to quickly fix any malfunctioning of the global economic system. I also find him to represent "Irrational Exuberance" to the extreme. I think if you read what he says carefully- though it is usually politically incorrect for a thread like this- he has said that he would buy gold if the conditions warranted it. If that makes me politically incorrect or unpopular, so be it. I'm not as sensitive as Hutch. I couldn't care less. I'm only interested in the quality of ideas presented here. I don't need to agree with someone in order to learn from them or respect them. I'll leave the personal attacks for others who have nothing better to do.
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