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

To: E. Charters who wrote (11516)	5/27/2003 11:43:46 AM
From: Elizabeth Andrews	Respond to of 39344

Erci, You are so full of it, it's amazing! The British government has been quoting (ie buying) gold with an official price since 1257. The price was 0.89 of a pound sterling in 1257. It has been gradually increased over the years as the British inflated its currency. I'm sure the Romans and Spain did the same but the records are scant. The Bretton-Woods stuff was just another fix in a history of fixes. Printing money on paper is the most profitable business ever created by anybody, that's why government's have a monopoly on it. The $100 note costs the same as the $1 note to produce but look at the utility difference and the profit margin is much more obscene.