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Gold/Mining/Energy : Gold Price Monitor
GDXJ 147.42+2.2%Jan 27 4:00 PM EST
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To: teevee who wrote (65825)3/15/2001 1:56:47 PM
From: The Vet  Read Replies (1) of 116927
 
Teevee, you are making a common mistake with this statement "those in third world countries who hold gold likely have to sell it in order to buy groceries" of assuming that relative currency exchange values are in some way related to purchasing power of those currencies in their own countries.
The domestic purchasing power of the SA rand for example is far greater than the domestic purchasing power of the US dollar.
Even the purchasing power of the Canadian dollar is better than the US dollar for many common commodities.
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