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

To: Wizzer who wrote (14642)	7/18/1998 7:12:00 PM
From: William JH	Read Replies (1) \| Respond to of 116762

"What I am suggesting is perhaps some countries are purchasing gold with their U. S. reserves." That's what I, as an individual, have been doing. Rather than have a lot of savings that pay a paultry and taxable interest rate, I'd rather have some physical gold, available at about the cost of production. This may be a ridiculous comparison, but according to Barons, Japanese citizens have $10 trillion in savings. If my math is correct, at $300 per ounce, that would be 1 million tons of gold, or about 125 times the U. S. reserves. I only mention this because most analysis of gold centers on supply and demand, but I always wonder about the supply of paper currency.