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Gold/Mining/Energy : Gold Price Monitor

GDXJ 120.00

+2.0%

Dec 22 4:00 PM EST

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To: Greg Ford who wrote (3381)	11/21/1997 6:36:00 PM
From: goldsnow	Read Replies (1) of 116822

Greg, The Economist article albeit provocative, is nothing more than a silly/clever joke. One can argue the very same point by arguing that Mercedes or BMW should cut the prices as certainly no one needs Yugos.That would certainly eliminate Yugos but also quickly eliminate Mercedes and BMW as they loose the storage of prestige and luxury. The fact that CB hold not just commodity but one that was accumulated by investing what eqivalent to 100 years of human labor and increadible resources is as credible as abandoning Florida out of fear of Hurricanes. De Beers Co would probably become a reachest Co on Earth with multiples that perhaps only Bill Gates can afford. Diamonds of course would be seen as the only rare mark that distinguishes "lady" from your average "commoner". Worse the entire industry would be killed for a benefit of 10 year respite of necessity of "waisting" money, that of course if The Goverement dared to even embark on such a move will stay in power beyond first sweeping depression, in a world flooded with useless paper.

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