On Sun, 28 Nov 2004 13:58:10 -0700, "John P. Mullen" <jomullen@zianet.com>
wrote:

>MacHamish wrote:
>
>> On Sat, 27 Nov 2004 20:55:35 -0700, "John P. Mullen" <jomullen@zianet.com>
>> wrote:
>> 
>> 
>>>Jim Stewart wrote:
>>>
>>>>"MacHamish" <russj41@concentric.net> wrote in message
>>>>news:1gahq0995mmq0lii5i9pinllmsq65hpjpn@4ax.com...
>>>>
>>>>
>>>>>On Sun, 28 Nov 2004 00:12:59 +1300, "Adam Whyte-Settlar"
>>>>><grawillers@hotmail.com> wrote:
>>>>>
>>>>>
>>>>>
>>>>>>My advice - sell US dollars - buy gold.
>>>>>
>>>>>I'm way ahead of you on that one, old chap.  It's still a good idea, too.
>>>>>
>>>>>MacHamish M$(D??(Br
>>>>
>>>>
>>>>Timing is everything. Watch the price of oil.
>>>>
>>>>Jim Stewart
>>>>
>>>>
>>>
>>>I don't know, Jim.
>>>
>>>It's easier to stuff $1000 worth of gold into a safety deposit box than 
>>>$1000 worth of oil.
>>>
>>>:-)
>> 
>> 
>> It's even easier to store gold mining stocks.  Your broker will hold them
>> for you.  If you want to own the actual metal but don't want to hassle of
>> storage, there is a new security called an Exchange Traded Fund (ETF) which
>> entitles the bearer to a tenth of an ounce of gold for each share.  The
>> shares are backed by gold held in trust at the Bank of England.  The shares
>> can be redeemed for the metal itself, or they can be traded like any other
>> stock or fund.
>> 
>> MacHamish M$(D??(Br
>
>I suppose so, if you trust your banker or broker.

If you don't, you shouldn't be doing business with them.

>Most of the people I know who hold gold lived through the Great (US) 
>Depression and wouldn't trust a bank as far as they could throw it.

Each to their own, I suppose.

>BTW, I've seen a good collection of worthless mining stocks.  They are 
>pretty common in the US.

I don't think NEM, GG, AU, or GLG will be going broke. 

>John Mullen
>Whose step mother lives on a gold mine in Southern NM.

Fascinating.


MacHamish M$(D??(Br