Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: long-gone who wrote (75055)	8/15/2001 4:28:09 PM
From: Horgad	Respond to of 116770

I don't know if it would help gold, but it should help silver. The price of silver should benefit from decreased copper mining. Copper demand should continue to fall as the building boom slows down. Of course, silver demand could drop too if people stop taking pictures because money is tight, but this might be offset by increased investment interest. Go figure...

To: long-gone who wrote (75055)	8/15/2001 9:27:26 PM
From: E. Charters	Respond to of 116770

You can bet the government and like minded sticky fingereds will round up to the nickel every time, which will make them 2.5% of the the last buck always. Funny how that works. It would make the government at least 100 million on the sales tax per year in Canada. People think it balances out because they pay half the time if the gov't is honest. In four possible odd transactions, from one to four cents price, the consumer "gains" 3 imaginary cents and loses ten real ones. Should he pay the even extra nickel if the price is 1.03, 1.04, 1.08, or 1.09? What does it mean to price things at these prices if the unit of exchange is a nickel? Why would you split nickels with hatchet? Why not always round down? It is also true that the nickel flow is always to the merchant and not back as change favours larger amounts that can statistically be paid more often on nickel boundaries by larger coinage. If merchants are forced to price by nickels they will ALWAYS round up. No one can stop them. If tax is not even, then it will be nightmare to track fair rounding. You lose every time. One can also figure unit costs of goods with sales tax to always come out to 3 cents in the units so it always rounds up. That is why you never see prices like 4.05 or 4.10 today in stores. They could price that way and never deal in pennies, but when they say 3.97 or 2.98 the perception is less and the store always keep the pennies. Today of course they keep the percent they mark up for credit cards whenever you pay cash. The demolishment of unitary amounts and their representatives of that is a bad science. Every accountant knows that pennies must balance. It would make more sense to make a two dollar bill or a three and make it equal to 100 ducents or tricents. This is in effect what they did in England when the decimalized the pound. All you do is unitize the nickel and make 100 units to the five. It becomes the new penny. The dollar is made equal to 20 "pennyuninickels" But you still use unitary math. There are now 20 cents to the former dollar. 1.20 is now followed by 2.01. That would boggle most people so the dollar would have to be reissued as the 20 pennyuninickel note and made into coin. The dime would be called the two cent piece or the theopennyuninickel and the quarter the pentapennyuninickel, the dollar would be the tesserpentauninickel or decadime and the five the pentadecadime. You don't actually have to abolish the penny. All you do is increase its value. You make 100 new copper pennies equal to one five "dollar" bill. You call in the dollar and reissue as a new 20 cents piece. To relate new coinage to old you just multiply the new by five. This way exchange is easy. EC<:-}