Ed, it all depends upon that which you were "entrained" upon as a child. Gold has none of that meaning or value to me. It's just stuff. Makes a nice wedding ring if you are not allergic to it. I threw two of them in the river. Today the bankers would be swimming like fish to catch them. "Dumb Indian". I call it the "Whooping Crane" Syndrome. We don't mate without gold. But it is all arbitrary as is disease. I would say that America should make Cocaine it's national standard since as it's banned and is more expensive than Gold or Paper. Gold was valuable when they banned private ownership of it except for jewelry. Canadians love gold. They wanted to put a huge Gold Mine with a polluting arsenic pool just above Yellowstone National Park. Play around with that super volcano caldera for gold. At least the Americans said no. Did any of you see the movie I made with Disney, Pocahontas? We thought that the description of the English was a bit over the top but conversations like these are proving me wrong. Gold fever.
REH From: [email protected] [mailto:[email protected]] On Behalf Of Ed Weick Sent: Saturday, July 17, 2010 12:00 PM To: [email protected] Subject: [Futurework] Poachers turned gamekeepers Because China, Russia and the Middle East -- at a crunch (albeit extremely stressful even for them) -- could survive the demise of the West (there are plenty more potential consumer markets in the world), the latter couldn't survive without the former. Unless we have universal warfare, this is why gold will resume its role as a world currency before too long -- as future historians will relate (with some amazement no doubt that America was so resistant). And it will probably occur when the likes of Goldman Sachs and JPMorgan Chase decide to turn from poachers to gamekeepers for a bigger -- but more law-abiding -- future, not because of any particular G20 summit. Keith Keith Hudson, Saltford, England You keep trying, Keith, and I do wish you luck but I do not see a possibility of a return to the inflexibility of the gold standard. As I pointed out in a previous posting, currencies are strategic devices that governments can use to their advantage, and to their disadvantage as well. Currencies can be inflated and deflated for domestic economic purposes and they can be pegged to other currencies to achieve advantages in international trade. How China has used the renminbi is an example of the latter. Would countries really want to lose such strategic flexibility just to pile up huge hoards of gold or run out of gold? I hardly think so. Ed
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