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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.93

+0.8%

Jan 9 4:00 PM EST

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To: Don Green who wrote (20785)	10/6/1998 2:53:00 AM
From: E. Charters	Read Replies (6) of 116845

Don all this BS about gold going down is that the US and lending countries want to demonetize debt and issue lots of it. If gold is not payment for debt then only US debt pays debt. It's win win for the US and lose-lose for the borrower. If gold equals money as all commodities must then they can pay back their debt and beat the lender. The US don't want that. What you are championing is debt over production. Banker's game. It's a house of cards. All debts collapse and the lenders go under with the process. The short sell forward process has demonetized gold but not for long. We could use sugar, wheat, oil or any other commodity to supplant gold here. The only difference is that in a devaluation gold goes up not down in real terms. That is because it can be used for money. If you think that that paradigm can be defeated by banker's paper then you don't know what money is. It is not debt. It is currency of exchange. The people here who trumpet gold are not speculating in metal they are speculating against paper. Your index that you trust is vaporous. The gold index man trusts not the governments and he has good reason unless some magic has been wrought by this later paper debacle that is different than the last 5,000 years. Methinks not. Go back Adam Smith and supply and demand. Perhaps they have added a few Marxists twists to economics since Smith first propounded the principles of supply and demand but margins and worth are still the same as they were then. Gold's worth is not defined by its marginal utility but by its efficacy as a reflector of worth and its utility as money. EC<:-} ==========================================

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