Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (55341)	11/1/2004 3:41:34 PM
From: Maurice Winn	Read Replies (1) of 74559

<The weirdest thing about gold is that they dig it up out of a nice safe place underground, only to put it into another nice safe place underground. What's up with that?> CB, that's what I think too. But it does give a great boost to GDP and increases taxes, but aside from that, I can't see the point. But, if somebody wants to buy and pay a profitable price, somebody else will dig. Those doing the digging don't want the gold because they don't keep it themselves. They do the digging to get other things. Taxes on the $250 an ounce which it costs to produce must amount to a fair chunk of money. To boost GDP there could be people who dig up holes and others who fill them in again. The government could print money to pay them to do it. GDP would go up. In a deflationary environment, which we have, thanks to Chinese maths [and Indian maths too these days] and technological development with more done with less, the government can print a LOT of money and still not get inflation and can pay a LOT of people to dig holes and others to fill them in. Mqurice

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