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To: re3 who wrote (108872)9/23/2000 10:29:42 AM
From: Bill Harmond  Respond to of 164684
 
>>what if the mid east countries decide one fine day to have a united arab currency partially backed by gold ?

The won't and it doesn't matter. There isn't enough gold around to back currencies any longer. The scale of industry and money has far outstripped the supply of gold. The world has outgrown it. Baring a deflationary Apocalypse, gold is just another commodity.