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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Hawkmoon who wrote (53094)	5/22/2000 2:13:00 PM
From: lorne	Read Replies (2) of 116762

Hi Ron. Think you said at some point that we can't use gold as a backing for the dollar cuz not enough to go round to rare. But the world uses the US$ as their main asset or backing for their currencies and there is to much, to easy to come by just print more. Seems to me that most world banks have all their eggs in one basket The US$ so if the US$ should fail or lose a good deal of its value what could the world CBs do maintain the value of their reserve assets.? Which currency would/could replace the US$ ?. And if things ever did come to this stage would the world ever again trust paper money with no backing except for the word of of the Gov. whose currency is being used.? I wonder which country might be the first to start dumping US$ for some asset of greater value ? Or which country would be dumb enough to start the ball rolling? There are lots of US$ out there and as you have said not enough gold to go round. Take care Lorne

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