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To: Victor Lazlo who wrote (131892)	9/26/2001 1:28:52 AM
From: GST	Read Replies (3) \| Respond to of 164684

"people don't see gold as a hedge against instability" People have been taught to see the dollar as the preferred hedge. Since people 'believe' in the dollar, there is no need to hedge with gold, or to hedge against the dollar itself for that matter. There is a reason that central banks like this arrangement -- it is more flexible for them and the US likes to see itself as THE central bank -- hey, why not run the world? BTW, next to the WTC, what is the greatest symbol of US dominance -- if you guessed the dollar you would be right my friend. Ask yourself "what could bring down the dollar". If the answer is "nothing, it is absolutely impossible", then gold is useless. But if you actually believe that about the dollar, permit me to be so bold as to suggest that you have not thought about it hard enough. William believes it. He has said in the past "we are the mighty USA, not some banana republic". But then he thought that interest rates had nothing to do with the new economy and ditto for oil prices and ditto for unrest in the middle east and ditto for the deteriorating balance sheet of the telecom companies. Gold is not a hedge against all kinds of general crap happening in the world. Gold is only a hedge against crap happening to the US dollar. So far so good -- I believe oh lord -- I believe in the dollar or lord -- deliver me unto the mighty greenback oh lord.