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

To: re3 who wrote (57258)	8/13/2000 2:37:41 PM
From: goldsheet	Respond to of 116943

> are you saying that various governments should be selling more of their country's gold, or even all of it ? I once mentioned all US gold should be distributed to US citizens, who really should own it, not held by the government. Then instead of worrying about manipulation and conspiracies, the goldbugs could focus their efforts on lobbying the average citizen to hold their gold as a store of value instead of spending it on consumables, like beer and cigarettes ;) The ultimate free market test !

To: re3 who wrote (57258)	8/13/2000 2:41:14 PM
From: Hawkmoon	Read Replies (3) \| Respond to of 116943

are you saying that various governments should be selling more of their country's gold, or even all of it? Yes. and sell it at a price that may be below the cost to mine it? Not necessarily. Unless, that is we see even less demand for gold that indicates that it is losing favor as a jewelry or an industrial commodity. But then again, we have to decide what is the base line cost of production. Some mines are extremely fortunate or efficient at running low cost mining operations. Then there are others such as in S. Africa, where they dig miles underground and literally dig tons of rock solely to recover a single ounce. That strikes me as rather inefficient (and dangerous) and a candidate for closure. After all, why should be subsidize S. African high cost gold producers? So maybe we can find the average cost of production among all mines and use that as mean standard of where gold is heading eventually Regards, Ron