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To: Step1 who wrote (56676)	1/11/2001 12:04:17 AM
From: Archie Meeties	Respond to of 436258

Do all miners settle their gold sales in local currency? I might be mistaken, but I thought that many settled gold trades in dollars which were then coverted. In a situation with a rapidly deteriorating currency, all operations past day 0 of the sale would be done in local currency which is already being devaluated beyond your contract price, until next month, when you begin the cycle over. That's my concern, although it seems like an extreme case (but that's what gold is for, and extreme case). Not many operating costs, besides fuel, could significantly inflate in one month. But this stuff happened in Brazil all the time. Perhaps some miners settle more often than every month? Could be a straw man, I'm more than willing to hear the faults with the argument.