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

To: IngotWeTrust who wrote (23370)	11/24/1998 5:06:00 PM
From: marcos	Respond to of 116837

'what neighbours' - are you out in the bush too? ... this is likely a formative factor in attitude, as real basic wealth [food/clothing/shelter] all derive from land, they are all products of soil and sweat. Only those with the luxury of excess capital have the problem of looking for a means of exchange and a portable store of wealth. If we lived in a city now, we'd be looking into going to Montana and raising a crop of dental floss, or taking up placer-mining, or something -g- I don't think you so much 'won me over' to the Euro being significant to the PoG, as I wasn't particularly interested in gold when I came to SI and met you, but you did put the whole thing in perspective quite clearly before I saw other writers take it up. Your BIS conspiracy theory is very interesting .... jury's still out on it, we shall see .... The main thing I can see is that Europe is a larger economy than the US, they are serious about having a meaningful currency, and they are serious about gold [witness their marking it to market, by whatever means they choose] - and all this will have an effect on the US$ and thusly the PoG since we think of the PoG in US$ terms even north of the 49th and south of the Río Bravo. I just think all this stress on doomsday scenarios makes goldbugs look like a bunch of shakey senile idiots, that's all. We don't need it. Sure gold is an insurance policy, but an insurance salesman who goes around yelling 'Fire' with a glazed look in his eyes isn't going to do a lot of business. Prudent homeowners go to a reputable office and buy insurance as a matter of course - and remember, the great majority of claims on that insurance are quite minor - burglaries and partial damage and the like.