Mervyn - Since gold thrives on adversity, does this mean Sam would need to wreck the house to bolster to bolster his back, drive the last nail into every last coffin ! I say so because the 6K level would go with an extreme level of a worldwide depression, and a cessation of most global trade. I think India and China can learn to think globally, and they will do so, hopefully. There is concern now about a potential for civil disorder in the US, not something Canada would want to countenance. I am not aware of any easy solutions. eric.
From: Mervyn Lobo Folks, On another note, I came across an interesting calculation last week. An economist pointed out that the US currency was fully backed by gold. That is, if gold was worth $6,000 an ounce, the US treasury had enough gold reserves to meet all its financial obligations.
