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To: Mark Adams who wrote (75567)	3/5/2001 1:08:36 PM
From: LLCF	Respond to of 436258

Great post.... DAK

To: Mark Adams who wrote (75567)	3/5/2001 1:09:43 PM
From: GraceZ	Respond to of 436258

It may also suggest that any basket of real goods (ie bread, cigarettes, wine, oil) could back a currency, as could the ability to produce such goods. Cigarettes are the currency in institutions where people are incarcerated. I did a photographic documentary in a maximum security psychiatric facility and I can attest that you can get a full blown paranoid schizophrenic to do just about anything you want for a pack of cigarettes.

To: Mark Adams who wrote (75567)	3/5/2001 1:23:31 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 436258

Mark - ...From an alien perspective, we invest huge amounts of attention to sift the earth for grains of gold, only to re-bury it in vaults. It makes little sense, unless the aliens have implanted a program on the human species to collect the gold unwittingly for them, at little cost to them.... It certainly makes sense, and more sense at higher prices, to the explorer / producers, or else they wouldn't do it. It also serves a real purpose as a regulation and stabilization mechanism on the price of gold, which improves its usability, both for monetary and industrial or artistic uses. Much, if not most, of economics consists of actions taken in self-interest by one individual or group that turn out to benefit all with no design or intent to do so. Regards, Don

To: Mark Adams who wrote (75567)	3/5/2001 11:18:59 PM
From: TobagoJack	Respond to of 436258

Hi Mark, agree on the PGM observation and upside. I am enthusiastic on gold because I think others may become enthusiastic on gold. Enthusiasm is difficult to predict ... one day DotCom, next day Optic ... Not enthusiastic on gold becoming money again, as it may be stifling and making everythingelse boring. Enthusiastic about gold being wealth. Paper and base metal coins serve adequately as money, backed by a fractional reserve system of a basket of goodies, including gold and possibly future production of olives. Chugs, Jay