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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.68

+5.0%

Nov 10 4:00 PM EST

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To: d:oug who wrote (91295)	11/18/2002 7:08:28 AM
From: Bill Jackson	Read Replies (1) of 116753

Doug, Not so fast, they need US $ or other hard currency and they will not stockpile gold if they can sell it to get more hard $$. As for fiat currency. There is no need for any backing for a currency. It is in effect a barter enabling medium of exchange. All the US needs to do is only print enough to enable the workers to get payment for their labour. Print too much = inflation. If it was gold backed and you print too much then you can run out of gold and a black market in gold occurs, as happened in India before the freed their gold controls. Bill

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