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

To: long-gone who wrote (25437)	1/5/1999 10:11:00 AM
From: lorne	Read Replies (2) \| Respond to of 116753

India Gold-Duty to hit imports, help smuggling 06:49 a.m. Jan 05, 1999 Eastern infoseek.com

To: long-gone who wrote (25437)	1/5/1999 10:11:00 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 116753

All of the greatest economists of history agree that it is M-1 cash floating around being spent vs "working" that is the inflationary problem. Richard, That was before the days of ubitquitous credit/debit/ATM cards, and money market accounts. It was when people put money in the bank to actually save it long-term, rather than merely an electronic replacement for their wallet and purses. I would agree that paper cash is not available to be loaned, and thus is not "working". However, overall money supply is the real inflationary indicator since the velocity of money transactions is so rapid. The only reason cash should be a concern is the lack of it and demand for it due to crisis preparedness. We have gradually reduced the amount of cash in circulation relative to the total amount of money in the system in electronic form. Those were the days when you paid soldiers in cash, rather than mandatory direct deposits. Thus, economic analysis should be adjusted accordingly. Regards, Ron