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Gold/Mining/Energy : Global Platinum & Gold (GPGI)

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To: Henry Volquardsen who wrote (4708)	1/13/1998 5:03:00 AM
From: Odi Handoko	Read Replies (1) of 14226

>> Now the greenback is stong but what is backing it? << You replied ==> "The assets of the US government, the productivity of the US economy and the tax revenues that the goverment can call on. The greenback is also backed by the borrowers willingness to repay debts at a rate that exceeds inflation and a proven track record of repaying debts. == You really got to be kidding (especially on the taxes part), aren't you??? == What is gold backed by? It's pretty and people like to wear it. Yes it is in immutable but that is not a major concern for currencies. It is not easily portable in large amounts. Not only do you not earn anything for holding it, you have to pay for storage. It is to expensive at current prices for widespread industrial use. == Tell that to the folks whose lives were saved because they had gold to begin with when all else fails == This theory that gold is more valuable than paper currencies because there is nothing backing the paper currencies is a fiction." == We shall see as events unfold over the next 6 to 12 months ==

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