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

To: John Hunt who wrote (45891)	12/11/1999 12:45:00 PM
From: Ahda	Read Replies (1) \| Respond to of 116762

There we go the life we lead here the groceries and a law suit for being a good Samaritan. No we dont know if we have a y2k problems well we will sue the sh-- out of you if you do. It should be it is against the law to practice unreasonable law. Of course that would cause a huge drop in real estate prices in my area. Which might not be good for the economy But i think i will take my chances with the grocery bag and sleep at night.

To: John Hunt who wrote (45891)	12/12/1999 2:39:00 PM
From: Alex	Respond to of 116762

Gold: Over the years A watershed in production 1850: Prior to 1850, gold was not just a precious metal but a genuinely rare one. World gold production from 1800-1850 totalled around 1,200 tonnes; from 1851-1900, propelled by the discovery in the United States, Australia and, later South Africa, it was almost 10,400 tonnes. The surge in output 1850-55: The expansion of the good delivery list by the Bank of England was an important step in guaranteeing the gold from London, now that much of it was going to foreign central banks, treasuries or mints. It entrenched the acceptance of officially approved names throughout the world. The gold standard 1855-90: Gold was accepted as currency. Track of statistics for the first time focused less on the reserves of central banks than on the monetary stock of each nation, which would include any such reserves but was usually primarily the gold coin in circulation. Rise in central bank stocks 1890-1914: There was a switch from private to government hands, which was aided, by the new supplies from South African discoveries, which assumed major proportions during the 1890s, supported by new gold rushes to Western Australia and the Kjlondike in Canada. The impact of war 1914: While the gold standard was not officially suspended, in practice it went into limbo. Restoring the gold standard Post-1918: Under the bullion standard, notes could not be redeemed for sovereigns, but only for 400-ounce good delivery bars. That is, at a minimum purchase of œ1,700. Free float of gold price 1968: The defence of $35 gold ended, leaving the price free to float, an embargo was placed on central bank gold trading. Today Even today, the markets reflect the way the world economy was in the late 1960s. And that is why some European central banks are left with a substantial stock of gold which they are not quite sure what to do with, while other nations, such as Japan, whose economies have grown so much in the last 30 years, have very little. ``If the movement of gold among central banks had remained as open and easy as it is with currencies, then today?s gold reserves might be a truer reflection of the global economy,?? says Timothy Green in his research study on Central Bank Gold. economictimes.com