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

To: Karl Siemens who wrote (26393)	1/18/1999 2:29:00 AM
From: IngotWeTrust	Respond to of 116764

Karl, Richard, THX for the true stories re: gold as currency!! Hope we've helped a few to think straight re: Au=currency! May the btm of your pans always be yellow! O/49r

To: Karl Siemens who wrote (26393)	1/18/1999 6:49:00 AM
From: long-gone	Respond to of 116764

<<The first was at a bank where I had previously had trouble trying to deposit some silver $5 and $10 coins. For a gold coin of legal tender with a face value of $100, they wanted to give me $83 (gold content value) less the cost of shipping it to their branch in Toronto, less the cost of assaying it! And this is a bank well known for dealing in gold coins. I'm sure they would have taken a piece of paper with $100 printed on it for less trouble. So instead, I went to pay for my groceries with the gold. No problem. Everyone, including the manager fussed over the coin. They were eager to have it.>> Banking is (has become) part of the game of "money = paper only". While growing up in West Texas,great amounts of money was loaned daily based on peanut, cattle, or oil prices with the main "security" given being a hand shake. The bankers then knew (at times hourly) these prime exchange rates between commodities and paper. A great deal of silver also flowed from the southern mountains of N.M. through these West Texas Banks. Today's banker has changed, but may be changing back. The "real worlds" of food (and even) housing can better understand something real. There is a great (somewhat) underground economy all around us that live near the gold producing areas. Where each Monday or Tuesday upscale jewelers pay great wads of cash for small nuggets and dust. There are still gold scales (hidden behind the counters) in far more Denver business than one would think.