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To: jim black who wrote (20229)	6/26/2002 3:16:48 AM
From: TobagoJack	Read Replies (2) \| Respond to of 74559

Hi Jim, I am absolutely shaking with anticipation of what might be on view this night in Hong Kong, when World Cup match between Turkey and Brazil is on screen, and immediately after the match, the opening bell tolls for Nasdaq. Let's watch the Q-currency tonight;0) [EDIT: Maurice, do not be too concerned; I believe QCOM will go no lower than USD 6/share at the ultimate end, unlike Worldcom and those others. BTW, tonight will be as good as any to sell, in the big picture] Chugs, Jay

To: jim black who wrote (20229)	6/26/2002 3:56:18 AM
From: Maurice Winn	Respond to of 74559

Jim, the world has an infinite array of things of value to 6 billion individual humans. Au/Gold, $/God, Au/CDMA, are just three of the multitude. They have different production costs. They can all be used as stores of value and money to some extent, but some are much more convenient and reliable than others. "In Gold We Trust" is horribly expensive, because it requires gold to be dug up at a cost of something like $150 an ounce then stored in 3D at great expense. "In God We Trust" depends on politicians' promises, which some people seem to think are okay. The fact that they write "In God We Trust" right there on the money shows the veracity of their promise to keep such paper, plastic, or pixelated money on the straight and narrow. They start with a lie because their money does NOT depend on any supernatural intervention; it depends totally on temporal tendencies of politicians and their supporters. I don't trust politicians or the electorates or military supporters who give them power. Though we are of course stuck with them for now in that they create the security for the serious value creators and that security therefore has a lot of value as shown by places without such security for private property. Zimbabwe for example. I prefer the value created by the brainpower of super-duper people. That is the pinnacle of human development whereas gold, dollars and other things are more closely related to our Aztec and chimpoid antecedents and their dominance hierarchies with confiscation as their way of life. As Microsoft has shown, there is vast wealth possible in the brainpower realm and it can be created by a tiny handful of people [compared with the world's population]. The difficulty is in identifying the said super-brains and backing them. It is not a simple matter to identify super-brains with good ideas, who also have to have the wherewithal to make their creative ideas real. But it's a lot of fun trying. Success is absurdly profitable. As the JDSUniphase graph shows, brainpower can look good for a while, but ooopsadaisy can be just around the corner: siliconinvestor.com To me, Uncle Al still seems talented, articulate and committed. The USA abandoning gold as an essential component of a monetary system doesn't worry me. His original point remains correct that without a backing such as gold, money is at the whim of politicians and electorates; a volatile combination. The US$ has worked just fine for 3 decades without the golden albatross around its neck. I'm sure that if he thought it was unethical or hopeless to try to run the US$ as a free-floating currency with no backing but political promise, he wouldn't have taken it on. He has succeeded for nearly two decades and there have been some serious challenges to him [and predecessors]. Hooray for Uncle Al and Uncle Sam [subject to change without notice - GeorgeW is denting my confidence with steel tariffs against Uncle Al's opinion, vast farm subsidies and other hypocrisy]. Mqurice