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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: Zardoz who wrote (34381)	5/23/1999 8:05:00 AM
From: lorne	Read Replies (2) of 116764

Hello Hutch. ........" Or gold is bounded by its cost of extraction on one end and the amount people are willing to over pay for it on the other. Currencies have gone defunct many times before. To assume that all currencies will surrender and gold would shine is to assume that your government would allow it's system of debt-based money to default. If that is the case in USA, forget about gold, go straight for the guns! "........ I think the USA and others do fear that their debt based system of money may default and this is why they hold such large reserve of gold. They know that gold is the currency of last resort and is excepted world wide as payment of debt. It just seems to me that the more they try to talk down the POG the closer we may be to the time when debt based money may default. Even Greenspan and Rubin state USA should not sell any gold reserves of course those 2 in my opinion are the least honest people on the planet. It appears to me that to announce gold sales in the manner that England did is to openly admit desperation. Take care Lorne

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