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Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (1445)	4/13/1998 8:37:00 AM
From: Caroline	Read Replies (1) \| Respond to of 9818

lol - hmmm, wouldn't there be a problem when the supermarket couldn't handle cash too?

To: Tommaso who wrote (1445)	4/13/1998 10:56:00 AM
From: Bill Ounce	Read Replies (2) \| Respond to of 9818

(tangent) thoughts on gold Think it makes sense to think alot before buying gold. The USA is not setup to do transactions in gold. People really like paper/plastic so it would take a currency collapse (like what happened to East Asia last summer) before people would have any incentive what-so-ever to go back to gold coins. Some recent histories of currency collapse, hyperinflation and restricted currencies lead me to believe that people will always be able to use their local "official" currency. USA dollars were used as a store of long-term value. The local currency was used for market transactions. Banks or private currency traders (money changers) were used to provide the mechanism of exchange. So, to answer your question: >>>Wouldn't there be a problem when you took your gold to the supermarket to buy groceries?<<< First you take some gold to the bank to exchange it into the local currency, then you take your local currency to the grocery store to buy food before any further devaluations reduce your purchase power. For any of these situations, 1/10 ounce gold eagles make more sense than "scrap gold" or large gold bars. CAVEAT Before I mislead anyone into false over-confidence that buying 1/10 ounce gold eagles is a wonderful thing to do, please remember what happend the last time an economic melt-down occurred in the USA. To bolster domestic confidence in dollar, F.D.R. made it illegal for USA citizens to possess gold bullion inside the country. And, if Y2K turns out not to cause a total melt-down, you may end up owning a still rapidly depreciating commodity.