Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Elizabeth Andrews who wrote (11506)	5/27/2003 12:22:30 AM
From: E. Charters	Read Replies (1) \| Respond to of 39344

The price of gold is the price of gold. Prior to Roosevelt effectively fixing gold by issuing bearer notes with their price in gold on them, the price of gold was quote in 1933 as 32.33. This was not gold price fixing, nor was it Roosevelt's doing. Much of the historic declaration misses the fact that gold was quoted at 35 dollars prior to Bretton Woods. These minor history "takes" as to the price of gold being one price and then being artificially 'declared' are not authoritative. It had its own price. There was no point in any nation declaring any other price for it after Bretton Woods and Roosevelt's actions, as it could always be bought (in theory) in US currency for 35 dollars, so it would be fruitless to do otherwise. You could be shorted or profiteered either way you went outside 35. So the "fixing" of gold, was an effective declaration of bearer notes, not a market dictum. In fact, Canada, all through this period routinely paid to mines a premium on the US declared price of 35 dollars by as much as 25%. This was called the EGMA or emergency gold mining act. Of course the US "price" was a huge scam, as Roosevelt, scammer that he was, made it illegal for private citizens to own bullion. They could be jewlers of it, and sell certificates and carry redeemable notes, they just could not redeem the notes. So I not wrong as usual, but right. It is you who are wrong as usual, so virtual Pekinese may stay on their virtual chain. EC<:-}

To: Elizabeth Andrews who wrote (11506)	5/27/2003 1:16:35 AM
From: E. Charters	Read Replies (1) \| Respond to of 39344

The continuing education of Elizabeth Andrews as to what is really going on in this world. Gold exchange standards, which the US was off as much as on prior to 1934, do not constitute a rigid fixed price of gold, or more properly foreign currency or trade exchanged for gold. I don't know what does make a fixed price of gold, for all the while gold was "sold" for 35 dollars in the US, (it wasn't, they just said that was its price, it was really to sell dollars, not gold.) gold actually sold for a good premium in Asia and Europe, and if you mined it in Canada, there too. drilleronline.com Here is something that should keep you awake at nights, if nothing else does. skolnicksreport.com EC<:-}