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

To: maintenance who wrote (32)	11/18/1997 9:23:00 PM
From: IngotWeTrust	Respond to of 1756

Good evening, maintenance. Thanks for joining in the fun. As I have a few messages to attempt replies I see, I'll began with yours as it is the most recent and beg the indulgent patience of the other two posters, ok? The XAU is this: It is the primary index trading vehicle for 9 major gold and silver producers whose shares trade in the USA. The index is properly called "Philadelphia Gold and Silver Index" and trades appropriately enough on the Philadelphia Exchange in Philadelphia, Pennsylvania. When Indices trade in the USA, their first letter usually designates their Home Base of trading if you please, w/X being the domain known as Philadelphia. AU if you remember your highschool chem I class is the elemental table for Gold, so the symbol on quote machines who can call up live quotes for the purpose of trading this basket of gold & silver stocks as a basket is XAU There, got that one answered. We are all borrowers and lenders to one extent or another. The financial Japanese crises (yes, plural of crisis) has left them in a net BORROWER position acc'd to the information I believe. Fiat money has no basis in reality. It is virtual money in its finest sense, frankly. Gold is considered hard money not virtual money. Those that share your opinion that "(fiat money) seems to be working" probably do not live in Thailand, Korea, Mexico or formerly East Germany. All these are the most recent casualties of opinions that fiat currency works well. You do make a good point however in posting your understanding of its working well. As long as it is a widely held view, then fiat currency works, because it works simply because of the majority of fiat currency holders believing that it works. When the majority quits believing because of actions of their governments who "own the fiat printing presses" then fiat QUITS working and trouble abounds. And said trouble abounds FAR BEYOND the soverign borders of said country. It is my and other's opinions that current currency crises will enhance the price of gold as the domino effect of crumbling fiat confidence occurs. I think you asked very good questions and we aren't over your head at all. Please continue to post and ask and comment. O/49r PS...the next time I run across an IBD article I posted sometime back on another service, I'll reprint it here as it deals with the reason why currency is backed regardless of what govt spinners tell us, and regardless of the nation of origin of the spinners.