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Gold/Mining/Energy : ECHARTERS -- Ignore unavailable to you. Want to Upgrade?

To: Metacomet who wrote (3596)	8/5/2011 11:35:11 AM
From: E. Charters	Respond to of 3744

It was not that way at all. The US started buying gold in 1933 and after a while it had reached $34.xx due to buying pressure. When FDR fixed it by pegging the dollar at 1/35 of an ounce it was already at that price. The fiction is that because of the $20.00 gold coin, which contained 0.9675 oz of pure gold, gold was effectively $20.67, did not really operate the world round. (It was always quoted somewhat higher on the London Exchange. Hard to get those historical records on google now.) Here is true list of London Fixes, averaged for the year. year price year price 1925 20.64 1977 147.84 1926 20.63 1978 193.40 1927 20.64 1979 306.00 1928 20.66 1980 615.00 1929 20.63 1981 460.00 1930 20.65 1982 376.00 1931 17.06 1983 424.00 1932 20.69 1984 361.00 1933 26.33 1985 317.00 1934 34.69 1986 368.00 1935 34.84