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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.99

+0.3%

4:00 PM EST

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To: russet who wrote (46031)	12/16/1999 10:48:00 AM
From: lorne	Read Replies (1) of 116753

Hello Russett. Have to agree with a lot that you say however in one of your replies to Doug you said referring to gold " You can't eat it. It doesn't help the poor eat or get shelter." I believe it was just a year or so ago that South Korea's economy and currency was in serious trouble and gold played a role in getting this country back on its feet. True you can't eat it but in times when paper currencies collapse you can trade it for food or shelter. You said " Over half the world lives day to day looking for a few scraps of food to live another day. They could care less for this gold crap, and will never buy any during their short miserable lives.". From what I have read India has a fair number of very poor people yet this country is the single largest consumer of gold. IMO this is because the poorest of the people still believe in the value of gold as a means of storing what little wealth they may have. Maybe they have more experience with paper money failures than we in the modern countries have. Take care Lorne

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