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

To: lorne who wrote (37967)	7/29/1999 4:55:00 AM
From: d:oug	Read Replies (1) \| Respond to of 116957

lorne, time for my off-the-wall comments. A real lolo of a doozer this time. What if everyone and everything could be frozen in time. Really. Except for a bunch of bookkeeping and accountants that are able to look at each country on planet Earth and take a snapshot of all books and inventory and money and wealth and whatever has current value. Something like each company will hire a firm to do up a report of its financial condition so that it can be mailed to stockholders. But this time its for each country. Enter each country and determine its worth in USA dollars at the rate of exchange for currencies at the time when Earth was frozen. Below in this post are stuff from Hutch and Ron, but I question some of it as being correct, as in legitimate because for example the exchange rates for currencies are being made based on speculation of traders to out guess the other traders to make money. Also, each country will buy and sell this paper money to cause ups and downs for political reasons. Seems to me that this highlights the absence of a real control like a gold standard would accomplish, and lets a game of chicken and gamble and guessing and doing things like printing money in the HOPE that it will cause something to happen that will not on its own because of a lack of a solid base for support. So without a gold standard, the worth of each countries value is determined by politicians trying to get re-elected, or in President Clinton's case, trying to get a record of last months in office to shine bright when the history books are written in a couple years. Also, power plays and big money plays by people who already have power and money and now NEED to obtain more so that they can impress others AND "show" THEMSELVES that they are of good stuff and highly successful. These folks I have just mentioned have very twisted and sick and poor mental health problems. They also are the ones who decide this Earth's political and financial happenings. The following are Hutch's and Ron's lastest gems of wisdom. Reminds me of the following. - wanta buy the Brooklyn Bridge - trick questions - giving directions by looking that way and pointing the opposite way - (specific) Ron says that its the government job to determine what is and is not correct, as in money matters. Implied by Ron is that even if the government does a poor or stupid job, we the people must not interfer. - finally, i wish Ron and Hutch would understand the difference between the following: gold to regulate and control the money supply, verses, gold is money. Sure would lessen a lot of nonsence posts. Can't currency, which does have a growth factor, outpace GOLD; and thus gold must fall relative to it? (Hutch) How can gold be a proper currency if all you expect banks to do is buy more and more of it, store it, and never sell it?? Integrity in finances comes from having the appropriate regulatory monitoring policies in place that bring transparency to banking transactions, not having a shiny yellow metal locked up in vaults that never see the like of the public eye. (Ron Reece) Suffice it to say that if nation's sell illiquid physical gold assets in order to purchase other nation's currencies, or to buy their currency back from other nations, it is in their interest to do so. The can always mine more gold (ie: create more "money"), right? (Ron Reece)

To: lorne who wrote (37967)	7/29/1999 9:36:00 AM
From: Bobby Yellin	Respond to of 116957

Hi didn't the English devalue to compete with the sinking(not stinking) Euro? I am still curious about trade deficit- the biggest stumbling block I can see I don't see a recession here yet..doesn't it seem that the US economy has a life of its own..it just seems that big corporations have taken advantage of strong dollar to buy more companies from abroad.. again since mergers keep on occuring both locally and globally I just don't see wage inflation..the only type of inflation that can that cause trouble.. I am also waiting to see if the economy slows down since it would seem that corporations might cut down expenses on hardware and software after addressing year2k by putting in new systems..also people stocking up on needs for potential year2k problems,and people racing to lock in interest rates on big ticket items.. ps this morning i spoke with somebody in Kansas..it isn't just in Manhattan that people think the booming economy hasn't helped many many people..