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To: GoldBull no bug here who wrote (86565)	1/28/2012 7:30:29 PM
From: RJA_	Respond to of 217830

If that transaction becomes universal, the POG must rise.

To: GoldBull no bug here who wrote (86565)	1/28/2012 8:05:33 PM
From: TobagoJack	Read Replies (1) \| Respond to of 217830

yes and no, and possibly no. (i) yes - your calculations are correct, but (ii) no - because the link between gold and oil, once established, can make the jump to other items, as the 'other item' producers also needs to buy oil once so, some debt would be denominated in gold, and it takes a lot more debt to make the world go around than it would take oil. (iii) possibly no - perhaps not the sort of pin you are talking about, but maybe more of the sort of pin one finds on a grenade ;0) we must aggregate more than our fair share of gold before gold becomes actually useful.