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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Henry Volquardsen who wrote (1652)	5/21/1999 3:05:00 PM
From: X Y Zebra	Respond to of 3536

Henry, You are too kind to the gold bugs... Gold days of glory are a thing of the past... as in medieval past, more or less like the Monty Python knight... in spite of having lost all their limbs in battle, the gold bugs keep claiming that gold will come back... Other than its commercial use, I do not see it as a "store of value". My opinion only. (I guess this saves me from being branded "a wide-eyed Randian") <g>

To: Henry Volquardsen who wrote (1652)	5/21/1999 3:57:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 3536

Henry, >>It is my view, which I'm sure some will take issue with <g>, that as capital controls have been removed the free market has developed into a very active policeman against currency debasement.<< What about the scenario where one country is trying to run a "very" loose monetary policy (like Japan) and that causes money and savings to flow to other countries (like the U.S.) where money is just "less" loose? It seems to me that another role of gold was to place limits on credit creation and credit excesses. I would have no problem with freely floating fiat currencies if central bankers weren't constantly abusing the system and causing all sorts of potential excesses. Wayne