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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: Edmund Lee who wrote (37311)	7/18/1999 7:48:00 PM
From: Enigma	Read Replies (2) of 116764

Perhaps the following will explain (better?): Say I decide to buy a VCR and go to the store and offer a Krugerrand in payment (with some change back hopefully). the store will ask me to go to my bank, or coin dealer, and come back with the cash or cheque to pay for the VCR. This should not be confused with transactions between CBs where gold may be the consideration - usually valued in $US. Gold is not used as currency in our society. Now, you might find a store owned by Richard Harmon! - and he would gladly accept a gold coin in payment - and it's possible that in future there could be a major crisis where people lost faith in paper - but we're not talking about extremes in the here and now. d

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