Gold, the currency governments hate. Some $645 billion of U.S. currency is in circulation worldwide. We no longer back our currency with gold, but government gold holdings currently amount to 147.3 million ounces. Divide the currency outstanding by the gold holdings and you get $4,380 per ounce. That's about 12 times the current gold market price. In the late '70s, U.S. citizens were allowed to own gold for the first time since the '30s, and it started trading around $75 an ounce. By 1981 gold peaked at $850 an ounce.
Since then, the amount of gold held by our government has remained constant (although there has been no audit of U.S. gold holdings), but the amount of currency in circulation has soared. In a world where governments competitively print new money, gold could become the de facto currency. Indeed, it already is for some people, witness the growth of e-gold, the electronic gold depository. More at... http://www.dailyherald.com/search/main_story.asp?intid=37810141 Regards, Joel Bruce http://AsianaGold.com --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
