Genius

[cottonpicken]

Im so happy these are the great minds who control our country.

http://www.ratical.org/ratville/CAH/linkscopy/Cshift2euro.html

[cottonpicken]

http://www.fin.gc.ca/n10/10-063-eng.asp

Thats right we have increased euro and dollar holdings and decreased
gold holdings.

[cottonpicken]

I should get back to work but this is bugging me.

If in 1980 we would have kept buying gold instead
of selling it all at rock bottom prices we could have
conceivably held 100 million ounces or 150 billion
dollars worth.

44 billion in foreign reserves/500$ ounce(ballpark
30 year average price)=80 million ounces 20
million pryer ounces=100 million ounces

ballpark math

[TOM4CWB]

CP,

Gold like a currency is the expression of confidence in an economic system.

It does not matter if we hold US or EU or CD$$$... or a trillion $$$ of gold. You can NOT ear any of it... power a transportation system... or stop a war when all people want to do is fight.

Civilization is an expression of confidence in the conventions and infrastructure that maintain that society.

Gold will go UP. AND down.

I think you will agree that trading gold as a currency for real assets... is a very unlikely outcome of where our economic system is headed. Numbers on Computers are much more easily understood and transported over distance and time!

[sumdumguy]

Our sons dwell on the fact that America must
devalue their currency and inflation will explode.
They are warning their parents that the savings
will be used for arswipe.

What surprises me that these doctors and
lawyers can't remember a few short years ago
when we had a 60 cent dollar. We basked in
exports priced in US dollars, by the way wish the
CWB was gone then. We weren't adversely
affected by our Liberal dollars. Only hurt when
we bought Ameriacn dollars. So I say, boys don't
swet it! Cotton, any comments?

[cottonpicken]

Only hurt when we bought dollars?It only hurt when
we bought anything.

People who think a weak currency is some how good,
need to go back to school.

Tom you would make an excellent politician,you can
twist truth and facts into a bunch of garble with the
best of them.

[Prairiefire]

Cotten that is the deal that the finace ministers agreed to do. Back these currencies so that do not flop like a wet rag and cause a financial crisis. There is so much debt out there by the various governments(countries) that any little issue will probably bring the G8 currencies to their knees. Get ready for inflation and higher interest rates.

[TOM4CWB]

CP,

Currency, the value of gold... and the price of oil and food...

Are all the results of political policy.

In 1900 the same complaints were being expressed as you have now.

And in the 1930's.

And in the 1960's.

and so on.

As long as folks WANT to use the systems of finance... they will work.

[mbratrud]

I will give the the benefit of the
doubt that they have been doing this to
help world economic recovery. Gold does
not do us much good if the world economy
collapses. Don't get me wrong would we
better off filthy rich with gold?
Probably. Long run though we may end up
a bit like the swiss family Robinsons
but surrounded by savages and pirates.

[mbratrud]

I will give the the benefit of the
doubt that they have been doing this to
help world economic recovery. Gold does
not do us much good if the world economy
collapses. Don't get me wrong would we
better off filthy rich with gold?
Probably. Long run though we may end up
a bit like the swiss family Robinsons
but surrounded by savages and pirates.

[cottonpicken]

No,it was only in 1971 gold was allowed to float.

Charles Degaulle of france decided to start
changing dollars for gold because of reckless us
government spending.

For 5000 years 99% of the planet has accepted it as
an exceptable form of payment.(you havnt gone to
the bank and bought that 1 ounce like i begged you
to a while back)

A dirt farmer in indian with no electricity or running
water knows what the price is.

There is nothing special about it,it a simple median
of exchange.

It takes time and energy to produce and all of it
ever produced in the history of the world would fit
in a big farm shop.

[TOM4CWB]

CP,

There needs to be a currency... for gold to have commercial value to trade for other needed and traded products.

Gold is simply one of those products.

Take some Gold to Walmart, Superstore, Viterra, or your local co-op.

They will all look at you very strangely... if you attempt to pay a bill using pure raw gold. I bet you a coffee... without major preperations and negotiations... the vast majority of business in Canada WILL NOT accept gold as payment for goods and services.

You need a currency to complete the transaction.

[cottonpicken]

The one ounce coin in front of me has the maple
leaf the queens head,and a stamp saying 50 dollars.

Your right though i would have to make a stop and
sell it before i converted it to something else.

On a side note there is a theory floating around,that
i talked about a few years back,about a global
convertible currency tied to the top 25 world
commodities.

I believe this idea is brilliant.

[Prairiefire]

One the most important and valuable commodity is food.All else does not matter. Ever try eating gold or dollar bills ?

[BTOfarmallll]

It ain't time to pull The Plug yet. When it is Look Out, Hope yall sittin down, Cause when the lights go out, Ya's ain't gon find yer way in this Shit Storm a comin'........