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

To: Hawkmoon who wrote (52901)	5/18/2000 9:25:00 AM
From: LLCF	Read Replies (1) \| Respond to of 116791

< Your comment ---" But in my eyes, gold is a symbol of personal vanity and elitism, only perpetuated by the mistaken belief that it has some kind of inherent value as money. "---> But Ron, as lorne pointed out, you're clearly wrong, since it DOES have inherent value as money. Also, did you go to school with Bill Clinton??: <As for the value of gold, I didn't deny that others perceive it has value. I only stated that it holds little value to me, except when the prevailing perception overrides the perceptions I currently hold.> Is that like "I didn't have sex, unless others view that I had sex"? DAK

To: Hawkmoon who wrote (52901)	5/18/2000 11:50:00 AM
From: Raja	Read Replies (4) \| Respond to of 116791

((Wanna bet? Look how they live...)) I apologise to anyone who feels this is OFF TOPIC. Hello Ron, I follow posts on this board quite often and respect your opinions and appreciate your knowledgeable comments. But I had to attempt a reply to that comment. As you didn't go on to explain what you meant by "look how they live...", I am here making some assumptions in my reply. Unlike most Americans/westerners 'they' do not live in mountains of debt, and most Indians own outright everything they possess, having paid for it in hard cash. That's Tradition. Yes...even the poor "untouchable" class. That INCLUDES ALL THE GOLD they possess as THEY PERCEIVE IT TO BE A STORE OF VALUE FOR THEM and that is a TRADITION. 95% of all property is still today paid for in CASH... the idea of mortgages has only begun recently... mainly because of influence of Western/ European/American Banks and financial institutions trying to "better the lives of middle-class Indians by showing them how easy it is now to acquire property, and really you don't need much money, not immediately anyway!!" Yes India is a rich country where poor people live, and in USA rich people live lavishly in a debt ridden nation. I don't want to go into a History debate, but yes I agree Indians lived much better before foreign invaders started partitioning and plundering the country for its riches and their own political ends. Indians are living the best they can in TODAY'S climate and circumstances - they feel GREAT ABOUT BUYING GOLD because that's the only thing most common people can understand for INVESTMENT purposes...they can buy it in bits, it doesn't need a major capital outlay as for property/real estate. They can resell it instantly when they need the cash. If a "billion people" think in the same way about GOLD then that GOLD has a significant value in that nation, for those natives. They don't understand INTERNET STOCKS otherwise they would too start buying them if they had the means. If the POG goes down at least the people can still wear it.... in the case of stock certificates I can think of only one thing to do with them if they lose value! Indians may "appear not to be living well, but certainly most of them will be sleeping better than their American counterparts.., as they don't have much to lose in the first place. Regards, Raja