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Gold/Mining/Energy : Mongolia Gold Resources

MGR 21.38

-0.3%

12:33 PM EST

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To: d:oug who wrote (3531)	5/18/1999 6:59:00 AM
From: Phil Jones	Read Replies (2) of 4066

Doug, I agree with you that gold is needed because of human nature. Paper and electronic transactions invite dishonesty - and dishonesty will always exist because of human greed. The problem is that only a tiny part of the world's currencies are gold backed. In Canada and Australia and Russia, it has become a miniscule percentage backing of the paper currency. Big powers like the U.S. and Germany have bigger gold backing for their currency, but it's still relatively small. So that's the way it's gone and is going. As hundreds of currencies move toward only a few ($US, euro, yen) and as communications improve (thus trust among countries), gold storage drops. Will that change? Only if something catastrophic occurs. I don't see anything on the horizon. It could change. Did you notice MGR closed up, at 6c? News coming?

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