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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 368.29

+0.6%

Nov 7 4:00 PM EST

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To: TobagoJack who wrote (66120)	9/17/2010 4:35:25 AM
From: Maurice Winn	2 Recommendations Read Replies (3) of 217615

TJ, for over quarter of a century I have moaned about the flimsy fiat financing of governments and the need to have solid foundations for money. In 1984 colleagues called me Mr Bring Back the Gold Standard. Not that that's what I was advocating. For decades before that I was well aware of the value of having robust money. So it's not as though I've just heard of gold and money and inflation and financial relativity theory. For decades I have threaded my way through monetary MADness. Pretty well too, the odd glitch notwithstanding. I have plans for the future too and so far, so good. You will recall our discussions of several years ago with me predicting that gold would easily get to $2,000 per ounce with financial relativity theory debilitation of US$ and $10,000 per ounce if gold was to take over to a large extent as money. Here we are cruising through $1280 per ounce. You were very excited at the suggestion of $10,000 per ounce. Gold is so small in quantity that for it to be used as money, it would have to be at $10,000 per ounce. At that price, the economic madness in the hunt for gold would be very expensive. We'd be back to the gold culture of the Aztecs. Swarms of people would waste their lives sucking it out of the oceans, digging homeopathic amounts out of mountains, and adding and removing protons to cheaper metals to get the good stuff. I've got bigger and more productive games to play than fiddle with speculative mania on gold [platinum and silver]. Swarms of people are already doing that. I'll swap you one mirasol screen and Snapdragon/LTE asic with WhiteFi thrown in for free, for one of your ounces of gold, and you'll be glad to give up your gold. A billion people in China are taking up my offer. Not many are bothering with gold. Mqurice

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