John Barendrecht Friday, Jun 13, 1997 4:36 PM
Respond to of 79861
Phil, all I see is gold coin sales up 25 - 30% worldwide. The government may try to tell us gold is worthless as a currency but the people are saying different. Just as we have seen stocks drop 90% in a few days, can this happen to a currency? History tells us yes. Sure some of these people are no doubt buying coins as "jewelry". I would prefer to buy physical gold in bars, less mark up. Good to see Greenspan still believes in gold standard. As for leasing, I don't completely understand it but doesn't garauntee no shortage as we have seen in platinum. Do you know what percentage of gold gets used in electronics? I know here (Calgary) if you don't get gold contacts on boards, etc., they last 6 to 18 months. With our high sulphur content in air, Tin/Lead just doesn't stand up whereas gold contacts on boards will last 20 years or more. Our Canadian gov't policy is to sell ALL our gold but we have only 3 million ounces. If they want to sell it now for $309, I'll see if I can swing a bank loan. In many countries gold is still sold on black market for double the official rate. Gold has been a currency for thousands of years. How long has the US dollar been used world-wide? Also, as the Chinese are the 3rd largest economy in the world, will it become the 3rd currency of choice instead of the German mark?
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