Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Hawkmoon who wrote (98876)	6/24/2009 2:03:36 AM
From: The Vet	2 Recommendations Read Replies (1) of 116555

In fact, if I recall correctly, the gold we possess in reserves is valued at $42.22/ounce. What's that in Zimbabwe dollars? The problem is always that an ounce is defined as a fixed and recognised standard world wide, and gold metal can be specified at a measurable purity and delivered in a specific physical form... However you are making all your measurements and comparisons using an undefined and undefinable yardstick called "a dollar" and despite your assurances there is very little control on the number produced either in physical or electronic form. I continually see the old adage that "all the gold ever mined on earth still exists". Well of course it does! All physical elements ever mined still exist in some form except perhaps for a little uranium and a minute amount of material sent off into space never to return. However the only thing that is able to increase without limit seems to be fiat money!

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