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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: Enigma who wrote (22811)	11/10/1998 4:38:00 PM
From: Zardoz	Read Replies (3) of 116790

No, I was suggesting to Macros that if Canada had more gold than it would have an over valued currency, and risk more exposure to recession than what is occurring. Currencies act as tax on foreign purchases, by inflating the price, while at the same time lowering the price in the other country. This is the nature of a free trading currency. Gold is a dead asset. If a government owns it, it should trade it {lease it out} or put it back in the ground. As monetary & fiscal policy mean more. And they ultimately control the currency. Why is the Canadain currency trading below the USD, and trending lower? You would say GOLD? Try some numbers, and see what happens if you assume two countries each have 20% gold, and a third drops it currency from 145 to 120. This is the viewpoint of a monetarist.

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