GOLD: WHAT IF IT IS NOW JUST A COMMODITY? Message Board

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Gold/Mining/Energy : GOLD: WHAT IF IT IS NOW JUST A COMMODITY?

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To: MUDMAN who wrote (5)	11/9/1997 6:35:00 AM
From: Gunnar	Read Replies (1) of 22

The need of a last resort. A bank demands for a last resort when you asks them for a loan. If the business idea is extremely good the may take a bigger risk, on average not. Some small countries may sell out some of their gold deposits. But if that would lead others to follow them, then the average willingness to take risks, without having a last resort, will decrease. The longer time pass from the last currency crises may led somebody to ....As long as capitalism seems to develop anarchisticly: up here - down there, and when that seems to be the core of change, people ,and central banks will speculate in the value of the need of and, therefor, value of the common equivalent used in trade. Risk will always have a price. Our coins does just have a symbolic value. The value of the coins changed when the strong state guaranteed the value of the money. But the state was never replaced by a last resort. Will Internet change the terms for trade so that the need of a state based last resort becomes privatized? Regards Marten

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