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Gold/Mining/Energy : Gold Price Monitor

GDXJ 120.00

+2.0%

Dec 22 4:00 PM EST

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To: Cage Rattler who wrote (85523)	5/19/2002 4:23:38 PM
From: marek_wojna	Read Replies (1) of 116822

The answer is simple, in Canada you can go and buy gold certificates instead physical. I would say people who buy them never question the bank if the bank gives you guarantee that you can redeem the for the gold any given time. Answer is no. Gold backed currency - not such exist in this world except E-gold. Swiss frank parity to gold was killed by very thin margin in referendum. Even if was not there wasn't any parity for at least past 20 years. Frank like dollar in 1971 was only derivative of gold. When French decided to cash on the derivative, POG had 350% gain overnight when US was forced to brake the parity.

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