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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: Stephen O who wrote (29872)3/12/1999 10:29:00 PM
From: Hawkmoon  Read Replies (1) of 116762
 
We need all that extra immense quantities of gold to act as a basis for the worlds economy.

That's why the CB's contol 14 years production of it.

14 years... that's quite a bit of gold to have in solid form, now isn't it??

But you see.. a gold standard is only has good as the human beings enforcing the standard. It takes humans to verify that banks have sufficient gold on hand to meet demand withdrawals and liquidity levels.

And its the banks owners who store the gold for you and issue gold demand notes.

And it is you and I who stand in lines at the banks during a panic hoping and praying they won't close the bank down or run out of gold.

It all comes down to how much confidence the financial system can maintain in whatever form it takes, Fiat or Gold.

Regards,

Ron
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