Hi Maurice, Sleepless in SF. On your <<Gold is the stupidest thing. People spend $250 to dig it up … really happy that they own a hole in the ground with gold in it>>. The alternative, paper money, cost next to nothing to print, competes against forgeries, earns zerodotzip interest at the bank, under constant debasement action of inflation, cannot survive the laundry machine, revolutions, wars, and the passage of time. Oh, and it depends on the full faith of politicians beholden to one or another group. You are right, paper money and Q is so unquestionably smarter than gold:0/
<<USA … selling … bars>> I am not even worried, however much I like to worry. The market can effortlessly absorb the 100+ billion worth of gold the FED can maneuver to sell, and then, well, you know the script. It involves nothing more than a few global economic entities (companies, funds, nations) reallocating their cash reserve or forex reserve. Oh, and there is always the individual investors:0)
Maurice, the game is rapidly concluding. The post-Enron new economy will require transparency, honesty, global concensus, and possibly a new new monetary system.
Chugs, Jay |
