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

To: Alex who wrote (38633)	8/8/1999 9:56:00 PM
From: jgibbs	Read Replies (1) \| Respond to of 116764

Alex, <<<?Physical gold of any large quantity is in such short supply that the Euro may be the only form of accepted payment for some of these gold-short contracts. ?Were that to happen, the dollar would be instantly devalued against the Euro and gold. Gold would likely riseto over $3,000 per ounce (making gold rise more than the 500% that the stock market rose in the last ten yearsper this morning's report). ?COMEX and LBMA futures trading in 'paper' gold would cease to function as no physical gold would beavailable to honor any contract. ?Confidence in the dollar would be lost if COMEX and the LBMA failed. ?The Euro would become the World's default reserve monetary currency (Euro is 15% backed by gold at $290gold, at $3,000 gold it would be over 90% backed).>>>> Alex and others, I have seen the speculation on other threads that COMEX and LBMA could cease to function in the not too distant future, since no physical gold will be available to honor any contract. If COMEX and LBMA fail, how would mines sell their gold? Would there be a spot market? If so, where? And how would such an eventuality affect their share prices, even if gold were priced sky high? JimG