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

To: Claude Cormier who wrote (17077)	8/18/2003 3:29:16 PM
From: Tommaso	Read Replies (2) \| Respond to of 39344

Yes, you have told me about it, but it sounded to me as if it opened up possibilities for fraud comparable to the earliest days of unregulated banking. When I went to college, the college chapel was still unfinished because the money that had been collected for that purpose, gold and gold certificates, sixty years earlier, had been deposited in a bank where it was as "good as gold" and could be used to pay the expenses of th construction. That was the "GoldMoney" of its time. It disappeared when the bank failed. I also think that GoldMoney violates the U. S. constitution. I am not saying it's a bad idea and I am not saying it wouldn't work. But between risking losing 10% a year on my depreciating dollars, and conceivably losing 100% in GoldMOney, I will take the former. At one point I was losing a lot of a supposedly bullion-backed (and precious metal mining) mutual fund when an officer of the company absconded with a lot of the assets. The parent company eventually made good the loss to stockholders. So as you see, I am more paranoid than a gold bug.