House of Paine

dollars good as gold

 the removal of the gold peg 
  by john boy connolly 

led to the demise of first world 
de facto social democracy 


=========================================


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watch and whistle:


1946 35.00  
1947 35.00  
1948 35.00  
1949 35.00  
1950 35.00  
1951 35.00  
1952 35.00  
1953 35.00  
1954 35.00  
1955 35.00  
1956 35.00  
1957 35.00  
1958 35.00  
1959 35.00  
1960 35.00  
1961 35.00  
1962 35.00  
1963 35.00  
1964 35.00  
1965 35.00  
1966 35.00  
1967 35.00 

--------------------------------------------
 
1968 39.26  
1969 41.51  
1970 36.41  
1971 41.25 

-----------------------------------------
 
1972 58.60  
1973 97.81  
1974 159.74  
1975 161.49  
1976 125.32  
1977 148.31  
1978 193.55  
1979 307.50 

 
1980 612.56 ----------------
             (850)
--------------------------------------------- 
1981 459.64  ------------------
1982 375.91  
1983 424.00  
1984 360.66  
1985 317.66  
1986 368.24  
1987 447.95  ------------------------
1988 438.31  
1989 382.58 

 
1990 384.93  
1991 363.29  
1992 344.97  
1993 360.91  
1994 385.42  
1995 385.50  
1996 389.09  
1997 332.39  
1998 295.24  


2004 450?
-----------------------------

ADDENDUM NOV 22
--------------------------------
NEW YORK - A sickly dollar lifted gold 
to a fresh 16-year high this week,
With the dollar on the skids 
 gold has gotten a great deal
 of attention lately 
and is approaching $450 per ounce.

Gold has been trekking higher
 for the past three years,
 but the pace of its climb 
accelerated in the last few months.

Reasons for bullish trend
While most analysts 
link gold's strong run 
to the performance 
of the dollar,
 some of the buying 
is probably speculative, 
  BUT THEN THERE'S

"Low short-term interest rates,
 the decreasing dollar, 
the trade deficit,
 the unstable situation
 in the Middle East,
 the war on terrorism, 
the overall feeling of instability 
and the need for safety "

Gold is still nowhere near
 its all-time high 
of about $850 per ounce,
 reached in January 1980.

 It was a difficult time, 
shortly after the start 
of the Iranian hostage crisis,
 in the midst of an oil crisis;
 the Hunt brothers of Texas 
were trying to corner the silver market,

 inflation was widespread 
and it was an election year.

 back to $450 in 1981,GOLD declined 
into a bear market 
in the 1990s 
as the world's central banks 
sold off parts of their stockpiles,
 flooding the market"


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