tdh@frog.UUCP (T. Dave Hudson) (08/15/85)
> From: bob@cadovax.UUCP (Bob "Kat" Kaplan) > Message-ID: <774@cadovax.UUCP> > I heard on the radio the other day that the United States is going to > start producing gold coins so investors in gold won't have to feel > guilty about supporting the institutionalized racism of South Africa by > buying Krugeraands. > Unfortunately, the radio station failed to mention where the gold for > these coins is coming from. I was under the impression that something > like 90% of the world's gold is mined in South Africa. A move has been underway for many months now to produce US gold coins and allow gold clauses in contracts. The purpose of the effort had nothing to do with South Africa. The coins were to be produced from the remains of the US's gold stockpile. It is an unusual and risky way to resume a gold standard, but with the snowballing general strangulation of the economy, especially the underground economy, it is preferable to inaction. David Hudson