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Gold/Mining/Energy : Gold Price Monitor

GDXJ 100.15

+0.3%

Nov 25 4:00 PM EST

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To: TD who wrote (62040)	12/18/2000 10:37:24 AM
From: Professor Dotcomm	Read Replies (1) of 116765

The Forbes article is quite outstanding. It makes reference to a 93% fall in the US $ value since 1917. Computers? No, they are not mentioned. The famous IBM mainframes of the 1950s have lost more value - in fact today's PC (which is more powerful) can be purchased for 0.000031% of IBM's cost. If the reciprocals are used, it emerges that the $ in this case has increased astronomically in value since 1955. Suppose the IBM mainframe was sold second hand and suppose the seller took gold coins instead of cash. These gold coins today would be worth about 8 times more. But would the seller buy 8 times an many PCs? He may well decide to keep his gold because he expects to be able to buy 16 or 32 times as many PCs. (What I am trying to point out are the differing opportunity costs in addition to the superb example of the German bell hop)

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