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Date Posted: 23:31:11 02/17/00 Thu
Author: Anonymous
Subject: Re: Poverty line?
In reply to: 's message, "Poverty line?" on 05:42:09 02/17/00 Thu

Not hard work! They are working less than they did in the post depression years! No, their seemingly high net worth results from doing away with gold as a currency!! The US dollar is not tied to gold and hence they can chose and dictate things on Wall Street! The net worth that you speak of is based on paper value (fiat currency) not real hard currency.

Look at the Euro, which is underpinned 16% by gold bullion and you will see why it has more value than the greenback. The time will come when a lot of the loans will have to be paid back either in euros or bullion (or oil). Then you will see how shallow that net worth that you speak of really is. When the going is good you can smile and fly, until someone clips your wings off.

Why do you think that the IMF keeps telling every one that there is an over supply of gold, when in fact, there is none? There is a 5year shortage in supply, and if you understand the supply demand equation you would expect the price of gold to be rising an soaring through the US$400 mark by now, but hasn't. Reason? To protect the lifestyle of the rich whose million dollar investments in housing are based on loans taken out in currencies denominated by the greenback rather than gold.If gold was allowed to rise according to honest market forces you would see the net worth of many US debtors come crashing down through the ceiling and several feet into the ground, as the value of the greenback dropped. And you know that the Presidents of the US would never allow that because the voters would crucify them if ever they allowed market forces to dominate Wall Street.

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