bruce@hp-pcd.UUCP (01/16/84)
From: hplabs!hp-pcd!bruce The gold market is a facinating thing to watch. I haven't invested in it, but might consider it someday. I personally wouldn't buy Kruggerands when there are so many other socially acceptable ways to obtain gold. The South African government benefits directly everytime someone buys Kruggerands. This is the same government which is responsible for the oppression of non-whites. This government has made no real effort to improve the situation. I personally do not want to make money by cooperating with that government. Let your consious be your guide.
jrs2@ihuxe.UUCP (01/18/84)
Does anyone have any advice on the best way to buy gold?
I am interested in taking possesion of some 1oz Kruggerands.
I have the literature from several brokerage companies and
the best method(safest) for taking delivery is thru a bank
"site draft" which is where the gold is delivered to a bank
C.O.D. style. However I cannot find a local(Chicago Western
Suburbs) which will perform this service. Know any local banks
which will do this?
Anyone got any dirt on a company named "The Krugerrand Corp."
out of New Orleans, La.?
I'd like to aviod scams like the IGBE affair.
I know that now is not the time to buy gold, I just want to
be ready when it hits $325/ounce.
ihnp4!ihuxe!jrs2 (312)979-0638/hh1/pst2/bin/user@pyuxhh.UUCP (01/31/84)
^-->
-->From: hplabs!hp-pcd!bruce
-->
-->The gold market is a facinating thing to watch. I haven't invested
-->in it, but might consider it someday. I personally wouldn't buy
-->Kruggerands when there are so many other socially acceptable ways
-->to obtain gold. The South African government benefits directly
-->everytime someone buys Kruggerands. This is the same government
-->which is responsible for the oppression of non-whites. This government
-->has made no real effort to improve the situation. I personally do not
-->want to make money by cooperating with that government. Let your
-->consious be your guide.
-->
-->
Bruce,
I think you are going to have some problems if you are going to try
and follow your ideaoligies according to my sources of gold production
viz
Country % of world production
======= =====================
South Africa 62 %
USSR 8 %
Canada 6.8 %
USA 3.7 %
Australia 1.9 %
No other country produces
more than 1% of world
production.
Now if you're not going to buy Krugerrands I presume you would not
wish to buy any gold produced by South Africa as this would also be
supporting their government.Surely you wouldn't buy Soviet gold(if they
would let you) after all the bad things they've done. So your choices are
down to Canada(can you trust a bi-lingual society :-) ),USA(what after
the indian massacres and suppression of blacks for 100 years after a war
that was fought to end slavery :-) ),lastly Australia (well we all know
their anti-wombat and anti-aborigine feelings).
So much for gold now how about everyday life ?
Do you drive to work ? If so you're probably helping to support
Arab countries where women are deemed to be second class citizens.
Etc.,etc.,etc.,.........
No seriously,I doubt that much of the gold produced by the US and
Australia ever gets onto the open market ,due to national & strategic
needs.So Canadian is about the only option you have if you're going to
follow your idealogical tendancies,with Mexican gold a possibility but
there you have to decide weither Mexico is a democracy or a thinly
disguised dictatorship(which I do not intend to voice an opinion here).
Apologies to anyone deeming this not relevent to net.invest
Dave Peak(pyuxhh!dxp)norm@ariel.UUCP (N.ANDREWS) (02/01/84)
Dave Peak's reply to Bruce's article (about not wishing to purchase gold from an oppressive regime) is certainly a valid contribution to this newsgroup. I think one shouldn't make purchases of gold from the Soviet Union because of its cost in human life in Soviet Union. I have heard that the Soviets use forced labor in their gold mines, and that mine camp conditions are so bad that one life is lost for each kilo of gold mined there. (Can anyone back this up?) Other investments are similarly suspect. I wouldn't want to buy Government bonds. When you buy Government bonds, the government spends the money. When the bond matures, the gov't has to either reborrow to cover the principal and interest, or tax the public (steal), or inflate the money supply (defraud by counterfeiting money). Since the body politic won't stand for too much in the way of taxes or inflation, the gov't has borrowed its way deep into debt. But limit has just about been reached here, too. Those who buy gov't bonds are loaning money to crooks who will engage in a relation of state with the tax- payer to repay the loans. And it looks like the day will soon come when the loans won't even be payable that way. Take stock in America: REFUSE to buy government bonds! --Norm Andrews, speaking only for himself.
mager@uw-beaver (Gary Mager) (02/01/84)
I have never bought gold, but I am considering buying some before the
elections, since I expect the economy to burst at the seams the following
year. The argument against boycotting South Africa is often used whenever
boycotts or any type of political expression is brought up - "If you can't
be 100% politically pure, don't even try". One has only to look at how
social/political changes are made to see that this doesn't hold water.
Look at the Nestles boycott, which has been going on for so long I
didn't even know it was still going until a few days ago. It was in
the news that Nestles finally gave in and decided to stop many of
their practices that were resulting in deaths of babies in Latin
American countries. When a country or company knows they are being
boycotted and can see the results (which is the case in South Africa)
there is a good chance of some type of change. It is really no more
difficult to buy Canadian gold as it is South African. For the
little extra effort it takes to remember to say "Canadian" to your
broker, you may be making a (tiny) contribution towards sending a
message to S.A. Every little message brings a little more pressure
on them. It's not like anyone is asking you to stop driving your car
or make a major change in your life.
The tiny message of a few ounces of gold may not be significant in itself,
but neither is one vote in a national election, yet there are a lot of people
who think that the latter is important to do.
Gary Mager
uw-beaver!magerdave@utcsrgv.UUCP (Dave Sherman) (02/06/84)
Well, really, if you want to avoid South Africa, you *can* buy
the Canadian Maple Leaf, a perfectly good one-ounce gold coin which
will give you no qualms at all.
Dave ("the patriot") Sherman
Toronto
--
{allegra,cornell,decvax,ihnp4,linus,utzoo}!utcsrgv!dave