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Gold/Mining/Energy : Gold Price Monitor

GDXJ 100.15

+0.3%

Nov 25 4:00 PM EST

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To: RiceTrader who wrote (88633)	8/8/2002 9:41:24 PM
From: E. Charters	Read Replies (2) of 116766

Gold may fall in and out of favour, and notions of value will be what they may be. But gold is not in fundamental oversupply, like oil, nor is a classic commodity. It is still used as a touchstone of exchange. It is historic that it has fundamental value. Salt does not compare. It is an egregious comparison at best. It had some value because of lack of refrigeration in times of an expanding pre industrial culture and because of the importance of fish and the dangers of bacteria to Europe. Gold does not preserve fish. It is a non corrosive electrical conductor and an element that is indestructible. It has unique characteristics of recognition and establishment of integrity and is universal in these and is culture to culture worth over time. Paper promissories are temporary in value and subject to a countries fortunes and the whim of its politicians in dealing with an economy. Unlike gold, they lack any kind of certainty of return of value against other standards. The idea of gold is its is a comparator of value. It may in this be a relic, or new found. The idea of comparators and value cannot be denied until domesday makes them superfluous. A promise to pay is still a promise. The idea of paper is the permanent deferral of payment. Gold is the payment. It is figured in units of temporal value. Paper is said to be the unit, but its value changes to other things. One of those things is gold. Gold's value as a thing does not change, but its temporary exchange in speculation may change. EC<:-}

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