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

To: Giraffe who wrote (28119)	2/12/1999 5:46:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 116830

LOL!!! Thanks for the very interesting article. Pretty much somes up the current situation as I see it. But that is not to say that something might drastically alter and make gold very attractive. I'm still on the fence and watching which way the wind blows. Regards, Ron

To: Giraffe who wrote (28119)	2/12/1999 5:50:00 PM
From: Zardoz	Respond to of 116830

An excellent posting. Both for what it mentions GOLD, and what it doesn't mention National Guard

To: Giraffe who wrote (28119)	2/12/1999 7:16:00 PM
From: Bob Dobbs	Read Replies (1) \| Respond to of 116830

This article has several errors in it. First the real (inflation adjusted) long term average gold price since the 1500's is NOT $280/oz in 1998 dollars it's closer to $600/oz! You can find these figures in Roy Jastram's book as well as in Martin Armstrong's site. Secondly, gold is not a commodity; it is money. (Silver is different; presently it acts more like a commodity.) Only 1-2% of annual gold production is used in industrial applications. Gold's primary consumption is for monetary jewelry and bars. As such it is in direct competition with fiat currency as a store of wealth. Gold does revert to its mean real value over time. Jastram's book demonstrates that. FIAT CURRENCIES THROUGHOUT HISTORY HAVE ALL GONE THE WAY OF THE DODO BIRD! Bob