Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Snowshoe who wrote (24067)	10/11/2002 5:43:49 AM
From: Maurice Winn	Read Replies (1) of 74559

<the amount of gold being used for non-monetary purposes at any given time is miniscule in comparison to the 80,000 tonnes of above-ground gold that is being held for monetary purposes> Okay, if I accept that jewelery is irrelevant to gold's price, let's look at gold as a stash of cash. 80,000 tonnes x 1000 x 1000 = 80,000,000,000 grams 80 billion grams for 3 billion people = 30 grams per person = 1 ounce per person = $300. That's a pathetic little amount as a store of value. We can't even go to the supermarket for that [not many times anyway]. Therefore, gold is useless as a store of value other than as a tiny item along with the vast catalogue of stores of value that humans have. I'll stick with QUALCOMM shares - burgeoning demand for CDMA and those amazing phragmented photons. Mqurice PS: Note the gold wackoes can't even spell minuscule, which means minute amount, not minimal amount.

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