Ron Reece, is this what you have been telling this thread ? Thanks Gary H (Dougak)
=========================================================
From: Gary H Sunday, Oct 31 1999 1:19AM ET
Post by Friend of Another, October 30, 1999
usagold.com
CHRIS POWELL, Secretary Gold Anti-Trust Action Committee Inc.
=========================================================
Bill Murphy, Chairman
Gold Anti Trust Action (GATA) gata.org
Le Patron, Le Metropole Cafe lemetropolecafe.com
=========================================================
Maybe Alen Greenspan just got this realization of what really is happening,
and alls going to be ok, and pop & prick of bubble NOT needed. Somebody e-mail
FOA's home telephone number so Alan can talk and get up to speed.
=========================================================
FOA to replace Alan as next Fed RockingChairPerson.
=========================================================
... the Euro structure is heading toward using
the free market to value physical gold. By holding gold
as a "free reserve asset" and not an actual "currency-
backing" asset, gold can be used in nation-to-nation
trade settlement without damaging the money supply. In
reality gold is reborn as the true world-class currency
it always was, independent of government treasury
issues.
... the need for an expanding digital currency
to settle trade in this fast modern society is seen in
the present demand for worthless fiat money. All our
modern advances would fail if we continue to use only
digital currency without a "wealth money" trading in
the background. This is and was so because there is no
method of separating "good currency inflation" from
"bad currency inflation" based on modern advances. As
such, a world reserve money based on the political
needs of one society (the United States) was abused as
it purchased a local lifestyle based on debt, not hard
work and good thinking.
Yes, a circulating "gold wealth money" will drive "fiat
digital money" from circulation if they are denominated
as the same. But by allowing them to "compete" in free
trade, gold would complement the "good" expanding
digital currencies that are based on true economic
advances.
... our high-tech world has given modern digital
currencies an intrinsic value that gold, trading in a
gold standard, cannot represent today. As such digital
currencies must trade against physical gold in a format
of the "Old World" wealth currency it used to be held
for. They cannot be locked to each other.....
Allowing gold to seek its historic money use value in a
free physical market, it retains its store-of-value
function and use as an asset for some trade settlement,
be it official international, commercial, or private.
In this function it still holds its "honest weights and
measures" use in evaluating national currencies. Of
course it must regain a new natural money price level
first, but after that every currency will be measured
by the economy that its money represents to see if it
is holding advancing productivity value by comparing it
to gold. High-speed computer trade settlement and the
bookkeeping that follows will still impart the need for
digital currencies, but in this format they would be
truly free to represent the economic dynamic of each
nation. Even during a rising money supply, some
currencies may advance in value.... |
