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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Don Lloyd who wrote (93294)	11/27/2001 7:17:10 PM
From: Knighty Tin	Respond to of 132070

Don, $3000 to $5000 per ounce. No wonder ASA was up 82 cents today. <g>

To: Don Lloyd who wrote (93294)	11/27/2001 7:31:42 PM
From: Ahda	Read Replies (2) \| Respond to of 132070

The difficulty we have now is that in prior times currency could to a certain degree go whoosh in other words it evaporated with the companies that were unable to keep pace with the market. Now AG through rates is attempting to limit the amount of debt that could of just been buried and forgotten about. According to Reisman, setting gold to about $3000 to $5000 per ounce and replacing (by a conversion exchange) all existing money would be the requirement to maintain the money supply. ( or at least that's my interpretation) What would happen to countries that attempted a gold standard from the base they now exist on? Chances are very slim gold will ever be 5000 per ounce so this is not too possible in my mind. What is possible is, nations who are trying to induce import by reducing the value of their currency on the open market could cause a currency crisis. One could start and many others could follow suit, the end result to their export enhancements would be nill but the off shoot of this to the world financial market would be pure pandemonium. There would be no alternative but gold or silver at this point.