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Gold/Mining/Energy : An obscure ZIM in Africa traded Down Under
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To: loantech who wrote (565)12/23/2002 7:55:33 PM
From: Bilow  Read Replies (1) of 867
 
Hi loantech; Gold is treated like money all over the world. You can take a 1 Oz gold bullion coin (i.e. Maple Leaf, Krugerrand or US Gold Eagle) and turn it into any currency you want in any city in the world, typically at the same booths that specialize in changing paper money. You can borrow in gold, gold carries interest, and you can hedge the value of gold in various foreign currencies just like you can do with one currency against the others. If you sell gold in the US, you have to provide a social security number so that the government can track you down and extract their fair share.

One odd fact about the Hong Kong money supply is that it's not all printed by the same bank. At least the last time I was there, there were at least two different private banks printing money, and the money had different pictures on it, depending on which bank issued it. This is only odd in that it's not found very many places in the world. The US used to have the same system.

-- Carl
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