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

To: Enigma who wrote (27657)	2/3/1999 2:44:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 116796

Well, someone has to be patronizing to the religious zealots who have worshipped gold, despite its continuing downtrend since 1982. And I believe my arguments bare more substance than gregorian chants of "Just because" when someone asks why the dollar should be backed by gold or why gold has intrinsic value. The Mantra that pervades this thread seems to focus upon how the powers that be are screwing the holders of gold, PEOPLE WHO THINK GOLD SHOULD BE SUBSISIZED BY THE WORLD by making it a global currency. That is what you all are basically asking for... a gov't subsidization program that creates value where none is needed or deserved. Peg your currency against a shiny metal so that a certain select sector of society can benefit from artifically inflated prices of a rare commodity. Why not do the same for Platinum, Palladium, and Uranium. They're mighty rare as well. Gold is pretty, its durable, and its a great electronic conductor. But it's still a commodity which has been artificially inflated in price due to the control of large quantities of it being held by CBs. You want a free market? Then I suggest you tell the Fed and CBs to sell their stockpiles of gold and see how the price of that shiny metal holds up. Since they are not exchanging gold for their Fiat notes on demand anymore, I think their large holding are an attempt to prevent a equitable and fairly valued commodity. Regards, Ron