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

To: Jim S who wrote (37727)	7/25/1999 3:21:00 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 116764

So, you sly dog, if '29 and '99 should happen to be comparable times, what should a farmer take in exchange for a bushel of corn? Yen? Euros? Quarts of oil? Cigarettes and booze (the good stuff, mind you... :0) Both work exceedingly well as currency during tough times. As for the question of whether other countries were pegging their currencies to gold, I believe that several were. I believe the Brits went off the gold standard during that time in order to peg to the dollar. If the PRC devalues, as a number of recent posts here suggest, what will that do to the yen and the dollar? IMO, it will strengthen both, and help to lead both the US and non-Chinese Asia closer to recession. If the Chinese devalue, it will likely cause a tremendous upheaval in the Bejing govt. A lot of "face" will be lost as a result of a devaluation with unknown consequences for leadership change. And when they do devalue, it will probably not be in large enough increments to make a difference (similar to incremental rate cuts that just never quite added the necessary umph that Japan needed in the early '90s). Who knows. I have insomnia right now, so I know I can't be thinking straight this early in the morning.... <VBG> Regards, Ron