Thread: Gold prices?
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Old 30th October 2006, 04:55 PM
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Re: Gold prices?

Quote:
Originally Posted by touchring
Hmm, this 2004 article, i found:

http://groups.google.com/group/soc.c...e52beff1dc25a9

Any thoughts of current direction? Anyone, economits?

US election? Saudi press oil and gold price?
Who cares? Gold is a pretty yellow metal that sits their and does sod all. It doesn't generate any wealth. At best it is a hedge against fear.

Even the Bank of England realised that sitting on big heaps of Gold was a bloody waste of resources.

Selling of the Gold Reserves was probably one of the key moves that turned the British Economy around.

Gold is a concept that is rooted in Medieval times. Before that things like Sea Shells were used. Time to for financial system to become of age and leave gold for such useful purposes as providing non-corrodable electrical contacts and the like.
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