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

To: LLCF who wrote (53161)	5/23/2000 9:10:00 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 116759

Because as long as one can compare a currency to gold [ie. gold trades freely], people have the option to hold gold if they don't trust the currency. What more could one ask for. David, I'm confused by your words. You seem to imply that people can't currently buy gold and which is patently false. What I resent is the fact that gold is being sold in a subsidized marketplace at a subsidized price. Subsidized you say? How could that be?? Simply because some 14-15 years worth of gold production lies locked up in Central Bank vaults. And listen David... I'M NOT ANTI-GOLD. But gold, for me, is merely an insurance policy against total economic collapse of the current system (which would then quite likely fall back upon the previous system where gold was the standard). I certainly don't think the Treasury should be permitted to confiscate a material like gold and then not be required to sell it back to the citizenry at a similar price that they confiscated it at. Let me give you one more example. Just as fiat cash replaced gold coins as a medium of exchange, we are seeing digits and dots replace paper currency. We are heading toward a cashless society, something that I'm not quite comfortable with myself as I prefer to pay for my purchases with cash. But now it is all electronic data and it will come to a point were cash will no longer be accepted. Now knowing what I know about computers, it is obvious that we'll see inherent problems in the system from glitches or hackers that could cause serious problems for the banking system. Given that knowledge, I certainly am not willing to pay $270/ounce for gold when it is obvious that the Central Banks have EVERY INTEREST in demonetizing gold, just as they would like to eventually demonetize my greenbacks. And we are seeing money taking on other forms similar to a "Greenstamp" economy, such as Beenz, Flooz, or barter agreements that skew the financial system by circumventing it completely. Regards, Ron