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Gold/Mining/Energy : Gold Price Monitor
GDXJ 98.59-2.8%Nov 13 4:00 PM EST
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To: Mark Bartlett who wrote (29867)3/12/1999 10:08:00 PM
From: Hawkmoon  Read Replies (2) of 116759
 
""<<Someday maybe you'll understand that human psychology is the
primary drive in achieving confidence in the financial system.>>""

I think even the biggest moron on the block realizes this

I wish I could agree with that. It seems pretty obvious to me, but some others out here can't seem to grasp that gold has just as many psychological pitfalls as Fiat.

It has little flexibility and certainly does not reflect the economic capacity of the human race. The global economy can only grow as fast as gold supply can grow and that is just a plain silly manner in which to run an economy.

Not that the current one is perfect... but at least it better reflects the potential of human economic output.

And if the crap hits the fan to the point where people lose complete confidence, then I would rather have a some fine bartering items because EVERYONE will be trying to sell their gold for actual necessities.

Btw, unless you have physical gold in your possession and a way to exchange it, you're just as screwed in a financial breakdown as those holding Fiat money. People withdrawing money out of banks in gold will quickly drain the available reserves.

You see people may trust the money. They don't trust those who are holding it for them. And the same goes for gold.

Regards,

Ron
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