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

To: Mark Bartlett who wrote (38429)	8/5/1999 7:28:00 PM
From: Enigma	Read Replies (1) \| Respond to of 116764

Mark - in general I'm in agreement - but gold is the most significant reserve asset of most CBs - someone posted a table here a few weeks ago - not of course Australia, Holland, Canada, the UK, Belgium - who have sold most of their gold also Argentina I believe - but for countries like the States, Germany, France, Italy, other European countries and others it's quite a different picture.

To: Mark Bartlett who wrote (38429)	8/5/1999 9:39:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 116764

You are still stuck on the pure "gold reserve" bent Actually, I'm not. I'm merely addressing those folks out here who voiciferously advocate a return to a gold standard. - IMO gold is still viewed as a currency by a significant % of people throughout the world, including N/A and will continued to be viewed as the safe haven, not only in time of "catastrophe" but in time of currency instability too. Well sure some people still consider gold to be currency. But the majority of people don't or else they would be undertaking their business transactions in nothing but gold. As for a safe haven, it depends on what they are seeking safety from. If it from inflation, the US government has issued inflation indexed bonds (not very popular right now given the low inflation rate). When that occurred, gold basically was set to be relegated to a currency of disaster, for times of wars that threaten the actually existence of a nation and its currency. However, while there are still major economic powers issuing currency that they can back up with either military or political force of will, gold really doesn't have much of a place except as a facade maintained for the sake of those who would continue to erroneously profess its merits in the modern financial system. Let gold plummet to a market equilibrium and flood that gold into the market so that working class dogs like myself can pick it up cheap. That way we'll have the ability to have an asset that may find value under apocalyptic conditions and not see it left in the hands of the CBs. As for transparency issues... under a system where gold plays a major role as a currency, manipulation can take place through geographical invasions, conquests, or multi-national corporate takeovers. In sum, manipulation and lack of transparency is just as plausible under a gold system as it is under the current. Regards, Ron