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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (36310)	7/2/1999 2:37:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 116762

The key words from his quote, "copper absolutely obsolete".>> Yes Richard... for communications purposes, one of these days whether it be 10 years, 20 years, or 100 years, copper will likely no longer be used for telecommunications services. It will be obsolete for that purpose. I'm not saying it will absolutely obsolete for any purpose, but solely in its current role as telecommunications and power transmission wire. As for saying that gold is worthless, I DON'T BELIEVE I EVER SAID THAT. Gold is not worthless. It has uses in industry and for decorative jewelry. But it's role as backing for currency is over, minus a major catastrophe that leaves the world in a post-apocalyptic state. But even in catastrophy, gold will not be as valuable as oil or food, so its worth will be relative in the absence of gov't. And many gold producers are making a profit. The problem is they are doing on the backs of the Fed Reserve and other CBs who store vast quantities of the metal and support their marketplace. Substitute oil for gold, Richard. Imagine, if you can, the US maintaining a 14 year supply of oil on hand for a strategic reserve (instead of the 50-60 day supply). Would building up that supply distort the market for the commodity?? Would selling that oil artifically distort the economy?? How about just breaking into the reserves when a sudden spike in the price of oil threatened to subvert the nation's (world's?) economic equilibrium?? Is that manipulation?? In my eyes, given the national security ramifications of a constant uninterrupted supply of energy to the United States, I would rather ALL THE GOLD BE SOLD and oil purchased with it and placed in reserve. But then of course, those fuel cell vehicles may one day deeply subvert the demand for oil operating off of renewable non-polluting hydrogen. I welcome that day. It will mean that the middle east will no longer be the focus of so much turmoil for the US. We'll no longer have our economy held hostage to non-democratic sheikhs and radicals. And the same goes for gold. When countries conquer other nations solely to gain access to a mineral resource that people like you have placed your "faith" in, far fewer people will die just to fulfill your fanciful love for it. At that point if you still find you want your "precious" gold so badly, you can go mine it yourself. Regards, Ron