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Gold/Mining/Energy : Gold Price Monitor

GDXJ 107.29

-0.9%

Dec 2 4:00 PM EST

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To: PAUL ROBERTSON who wrote (72162)	6/22/2001 12:04:24 AM
From: lorne	Read Replies (3) of 116791

Hi Paul. I have some trouble trying to imagine what could happen to the rest of the world economies if the US$ should fail or just lose a good portion of its value compared to other currencies. It appears to me that the rest of the world CB's use the US$ as a store of value or their main reserve asset just as gold once did. Wouldn't a loss of value of the US$ cause a loss of value of all who hold the US$ as a store of value and a loss of confidence in the currencies of the affected countries. Can this be permitted to happen.? How can the US force a weak dollar policy, I think the cost to world economies would be horrendous and if the the US$ paper money fails what fait/paper currency would the world trust as a replacement? And if the price of gold should go as high as 3000.00$ an oz. it would be 3000.00$ of near worthless paper. World has a big confidence problem looming, sure hope there is a way out. Any thoughts? Lorne

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