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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.34

+5.2%

4:00 PM EST

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To: Don Green who wrote (17674)	9/5/1998 6:48:00 PM
From: marcos	Read Replies (3) of 116768

I have a friend who figures that gold will eventually completely lose its function as the only real standard of the thing we call 'money'. He goes on and on with all that 'new paradigm', 'New World Order' stuff. I disagree, for the reason that there is nothing to replace it, nothing better - and we need some sort of standard. Fiat money is ephemera - no fiat currency has ever retained its value for long. I don't particularly subscribe to the more graphic of the doom scenario theories talked about here, but you know - stocks go up and they go down too, peace gets rudely interrupted by war a great number of times throughout history, and politicians are subject to the same motives and frailties under which they have always laboured. Doom for the species? - No, I don't think so, we are an adaptable sort ... but hey, things can get real volatile at times. What would you use as a standard of value that would stand the test of time?

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