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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: Win-Lose-Draw who wrote (677)	5/4/2003 7:32:01 PM
From: EL KABONG!!!	Read Replies (1) \| Respond to of 4912

Hi Win-Lose-Draw, It is my belief (and I could be wrong) that gold, silver and a handful of other precious metals could be used as a form of currency in the event of temporary failure of a fiat currency, to purchase short term needs in what might survive as a marketplace, for purchase of things such as food. I doubt that you could use metals to pay for things like an electric bill or a mortgage or a new car, but for short term needs, small amounts of precious metals might be sufficient to bridge any gaps. Historical precedents exist for my opinion, such as the currency failure(s) in South America, and most recently, the currency problems in Asia circa 1997/8(?). However, for the USA and Europe, the "theory" has yet to be tested. KJC

To: Win-Lose-Draw who wrote (677)	5/4/2003 8:22:39 PM
From: LLCF	Read Replies (2) \| Respond to of 4912

<i've asked this before of others and never recieved a coherent answer. in the event of a global meltdown of a major currency, what good, specifically, do you think owning gold will do you?> $US is the most crowded trade in the history of the world... when it melts down gold will soar. And you don't need much, you can keep it under your bed and take it to VAncouver and cash it in if the US gets chippy about gold ownership. DAK