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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Square_Dealings who wrote (31482)	4/30/2005 9:45:03 PM
From: mishedlo	Read Replies (1) \| Respond to of 110194

well for example South African gold mines are nearly out of business because gold is priced in dollars and the value of their currency has gone up relative to the dollar so you figure it out No You figure it out Gold is currently priced at 435/1.29 or 329 euros / oz assuming I did my conversion correctly. If you want a price of gold in Euros you can get one. If you want a price in pounds you can get that too. If SA started pricing gold in Euros they would make no more or no less than they are making now. It is absolutely 100% that simple. If home builders started pricing houses in Euros would they be more expensive? I am sure any homebuilder would give you a quote in Euros if you wanted and it would not matter one iota. If gold was priced in RAND it would not matter either. Why would pricing gold in RAND make the value of the RAND go up or down to the US$ or the Euro? The OBVIOUS and CORRECT answer is that it would not make a hills bit of difference except for the illiquidity of the RAND or of Yap Island Stones. Mish