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Gold/Mining/Energy : Gold Price Monitor

GDXJ 99.85

+6.2%

Nov 24 4:00 PM EST

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To: Hawkmoon who wrote (53122)	5/22/2000 4:19:00 PM
From: long-gone	Read Replies (1) of 116764

<<Since there isn't enough gold to fully back the available paper currency that has been issued I see little rationale in keeping gold as a "reserve currency". I mean face some facts here... the US can't sell gold except by act of congress, so I really don't see what good our gold reserves actually serve. Were the dollar to collapse, exactly how would all of that gold in Ft. Knox resolve the problem?>> You have a rather large cause & effect problem here Ron. The market is saying they understand the gold reserves held by the US are gone or have been greatly reduced. They also understand President Bush will bring truth into the equation.

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