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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Eva who wrote (2866)	4/2/2002 9:17:16 PM
From: Canuck Dave	Read Replies (1) of 39344

It was Nixon, in 1970. Private ownership was also allowed again. The US hasn't been shy about manipulating the price in the past. From about 1910 until 1933, gold was pegged at about 22.50 an ounce. Roosevelt effectively confiscated all private gold holdings and then revalued it at 35 an ounce. This in part paid for New Deal programs. The US also reneged on its gold certificates in 1933, disallowing conversion of Federal reserve notes in specie (i.e. for gold). In the 1800's, US had a bimetalic standard, but big discoveries of silver effectively drove people to gold (bad money drives out the good). CD

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