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

To: goldsheet who wrote (82510)	2/25/2002 1:32:00 AM
From: E. Charters	Read Replies (3) \| Respond to of 116764

European gold jewelry is low grade (58.33%) and sold for its ornamental value. Gold price, while a factor in the piece's price, is not as important. Asian gold jewelry is sold for its gold content as a store of value, and is usually of higher grade. Its price is very near the gold-content world-price. Cheating on gold content becomes more of an issue there therefore. (In fact the Asian black market for gold is generally higher than world gold price. In Asia few people trust paper money. China has a very bad history with paper money.) European jewelers favour a low gold price, but factor the price in anway. Italy is a very big buyer of gold at low prices. Asian Jewelers like a high gold price, as their business improves then. Everyone should wear some gold. Gold plated faucets, watches, rims on glasses, and belt buckles are to be encouraged. Buy an ounce today. 200 million ounces of gold bought per year by the common man, would be hard for central banks to trash. (6857 short tons AU) If America went Asian, then the CB's would be out of gold to sell in no time (They only have 15% of it, the rest is in private hands.) and we would get our gold industry back. The sooner we do it, the better. Industrial financing has been in the hands of politicians, morons and their friends far too long. Money is a private matter. And far too important to leave to politicians. What value traders put on things is up to the trader, not the politico who favours his paper/taxes/financial control. Argentina take note. The tragic fallacy of modern governments is that they should control the worth of the dollar. The market sets that worth, not they. If they print more, then the commodities rise in price. That is all. What governments artfully ignore is that it is their debt, not private debt that drives inflation. It is their spending, not private spending that makes dollars worth less. It is the banks loaning funny money to take over companies or prop up spendthrift foreign economies that inflates the dollar. We got nothin' to do with it. DAK47 is actually right. Gold is a government monopoly, price wise. It should not be. EC<:-}