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

To: Edmund Lee who wrote (37311)	7/18/1999 7:30:00 PM
From: long-gone	Respond to of 116764

<<As for myself, if my tenent cannot pay me cash for rent, I don't mind to have a few gold coins instead. Just don't pay me in blocks of copper or cans of gasoline.>> I'd also take silver as change. You might find it interesting, during the dark days of the oil price crash, I lived in Lubbock Tx, and my bank was closed. Needless to say, my check drawn on the bank(FDIC insured) would not be accepted by the landlord of our large apartment building. I guess he knew it can take weeks for FDIC to cover the problems. He gladly took gold coins for the rent.

To: Edmund Lee who wrote (37311)	7/18/1999 7:48:00 PM
From: Enigma	Read Replies (2) \| Respond to of 116764

Perhaps the following will explain (better?): Say I decide to buy a VCR and go to the store and offer a Krugerrand in payment (with some change back hopefully). the store will ask me to go to my bank, or coin dealer, and come back with the cash or cheque to pay for the VCR. This should not be confused with transactions between CBs where gold may be the consideration - usually valued in $US. Gold is not used as currency in our society. Now, you might find a store owned by Richard Harmon! - and he would gladly accept a gold coin in payment - and it's possible that in future there could be a major crisis where people lost faith in paper - but we're not talking about extremes in the here and now. d