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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Bill Murphy who wrote (3889)	3/5/1999 10:15:00 AM
From: long-gone	Read Replies (3) \| Respond to of 81039

All, My letter to the Vice President Please forgive me, and with all due respect, but your support of IMF gold sales are far removed from the best interests of the traditional support base of your party and our Nation! One traditional depository of support for the Democratic Party has been the Union Worker. More over, a great deal of traditional support for the Democratic party has come from the entire natural resource sector of our nation. The natural resource sector of our economy is vital to the health of our broad based domestic providence and the future of the Democratic Party. When the people involved in these economic sectors continue to lose their farms, homes, and jobs will they still support the Democratic Party which has helped destroy all commodity prices? I think not! Most of the top economists in our nation agree that there will be no increase in ANY commodity price so long as gold remains near this all time low price! Gold price will have trouble returning to traditional price levels under the specter of continued Central Bank or IMF gold sales. Union jobs are responsible for the removal of precious metals yielding ores from the ground. Union jobs are also responsible for the transport of this ore to refineries which again provide union jobs! Much of the gold which is mined and refined in our nation is made into jewelry in our United States providing much needed manufacturing jobs. If extraction of this gold is carried out beyond our shores then too will be it's manufacture into jewelry! A low price of commodities benefits Europe and hurts our nation as the best production base of these items is in the "new world", South Africa, and Russia! Yes, I can understand why the nations of the European Union would wish to draw into question the value of gold. Once their current supply of gold is gone, they will have no more, as most of their in ground supplies were mined out centuries ago. Remember, Sir, the manifest value of gold comes not from governments but rather from the fundamental base of natural law, and Sir, that is the law of scarcity. The mislaid attempts of the EU to devalue gold are ABSURD and the continued support of these experiments by our government and Wall Street to abdicate the natural laws of scarcity are destined to fail. Do you wish the Democratic Party and our nation to fail along with this experiment? Do you wish to further jeopardize the monetary future of our N. A. F. T. A. partners Canada and Mexico and the burgeoning free economies of Russia and South Africa whose near-term future is tied to the value of precious metals? Do you wish to see these developing lands return to their prior human rights abuses brought about through economic recession? I think not, You're a far better person than that! There are also those which would try to discontinue all natural resource use based on environmental concerns. Again these views are misplaced. When we have a higher price of natural resources Vs the current lower price there are greater efforts to conserve and recycle these resources. Currently gold plated items are found in the dumps and land fills of our nation due to the idea "The supply will never end"! Would we not be better off were the value of these items high enough to assure their recycling? Are we, as a world, not supporting a better global environment when these metals are extracted here under the watchful eye of the EPA than in some other land without our environmental conscience? We are told to "Think globally and act locally"; the mining and farming industries of North America are the most environmentally friendly in the world! Please Sir, abandon the ludicrous policy of IMF gold sales which are destined to fail, and fail badly. Suppose, the IMF is so imbecilic as to sell their(OUR?) gold supplies(and worse yet at near the all time low price), what then? Their gold will be gone and the survival of the IMF, the World Bank, and the United Nations will be threatened. Is that really the desired goal? Even if, in the end, this gold is destined for sale need we be so moronic as to sell near an all time low price? Sincerely Richard Harmon