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

To: RiceTrader who wrote (88647)	8/9/2002 2:13:36 AM
From: d:oug	Read Replies (1) \| Respond to of 116766

Dear RiceTrader, Please let me edit your post so that E.C. will be able to help you. . Message #88651 from RiceTrader at Aug 9, 2002 1:21 AM "... one gram of gold is always equal to one gram of gold..." . CORRECT . "... the market determines what it is worth..." . A FREE MARKET YES, BUT WE AIN'T GOT THAT . "... a controlled fiat money seems to work..." . YES, IF YOU BELIEVE THEM POLITICIANS . "Fiat money outclasses gold as a medium of exchange..." . E.C. ALREADY SPOKEN ABOUT THE "class" ELEMINT AS THEM FOLKS TO RULE A PEFECT SOCIETY (OR) WHO CONTROLS THE "medium of exchange" RULES. . "...[a controlled fiat money] widely accepted..." . YES, OR YOU GO TO JAIL . "... very hard to buy things with gold." . YES, BUT IN THE END SOFT IS NICE AS IN TOILET PAPER AND SO THIS IS TRUE IF THAT IS SANDWHICH WHAT YOU WANT AS THE END RESULT (OR) FIAT BECOMES. . "Ultimately I want to purchase assets and services that interest me..." . "Ultimately" AS IN WHEN YOUR FIAT PAPER BECOMES THAT END AS TOILET PAPER, YOU WILL NEED GOLD. . "I can hardly imagine..." . A.K.A. WHAT REAL MONEY IS/ABOUT d:oug

To: RiceTrader who wrote (88647)	8/9/2002 9:14:13 AM
From: E. Charters	Read Replies (2) \| Respond to of 116766

Take a look at the constant dollar price of gold for 400 years. Then take a look at real estate price and tell me about constant value. Real estate can be a wasting asset or change in price violently in a short period. It is also taxed and requires upkeep. It cannot be funged as gold can. fungible? A lot of times real estate cannot be sold at allas no one has the money in cash. As well, its upkeep is in dager from interest rates. Paper is a convenience. Don't overrate it. It does not replace what it purports to pay. With gold money you would still exchange credits by paper. Gold could still float too. There is no point in pretending that with gold backed currency you would not still have some inflation. But currency would not be in danger of catastrophic collapse. Printing of money could still be cranked up when needed. A gold backed currency would limit or keep track of the amount printed. Another way of doing this would be to limit the amount banks could loan on deposit to say 10 times. We had the Industrial revolution during a period where banks could only loand 4 time their depositary amount. This ration was decided in ancient times when money was much more stable and oft traded in silver, gold and jewels. It is strange indeed in much more liquid times that with money being created at 20 times what is deposited that there are not more runs on banks and bank failures. EC<:-}