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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (4207)	6/28/2001 11:56:47 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Mrs. Peel, I've been thinking about the Gold Standard today, one of the books that had some "gravitas" on the subject back about 20 years ago was "The Case for Gold" by Rep. Ron Paul and Lewis Lehrman, it was published by the Cato Institute back in 1982. Ron Paul was in the US Congress at the time and is also currently in congress. I have a copy of the book my grandfather had and am going to reread it. I do want to point out that on Page 1 of the forward......the very first page of the book, it reads in the last paragraph that ":Briefly, we offer two methods, one through the legislation of competitive currencies,the other a govt directed gold standard of the classic variety. Only future events and attitudes will determine the best method. .......on page 2 of the forward applaudes the Legalization of Gold ownership in 1974 ( thanks to Philip Crane, Jesse Helms and other)...." It's hard to believe that the United States of America outlawed the ownership of Gold bullion from FDR's policy move in 1933 to 1974...and I find it harder to comprehend today......except that I have some historical perspective and have followed this historical topic for a 20 years. as the Hip Hop community would say ....What up ? as I weave back to your question we have been creating a system along suggestion number one, where we do have competing currency investment options in the US, as well as fuller access to the global spectrum of global asset classes. This is good, I feel, and , it gives the individual the 2 edged sword of great opportunities and conversely plenty of rope to hang oneself with By that I mean , plenty of choices and time to buy the tops of many asset classes ...and markets. And theoretically Human Nature wants to do that....something about safety in numbers...... I'm going to reread some of the pro-hard assets arguments and see how they sound today. John