From: Francisco Paulo Cipolla (cipolla@UFPR.BR)
Date: Tue Nov 30 2004 - 12:25:06 EST
Hi Jerry, all you say shows quite clearly that the circulation functions of gold have been substituted by other instruments. Paulo Gerald_A_Levy@MSN.COM wrote: > Yes, Paul B, the message you sent on Sunday replyingto Rakesh was > posted at that time. Some time ago (on November 19) you wrote: >>>>As > a matter of fact Fred, I know of no one who would not be prepared to > accept a certain quantity of gold for any of their property , ( should > they wish to sell it, even if they later had to exchange it for paper > for other reasons), that is to say that this commodity remains the > money commodity, par excellence.. <<< Interesting, since I know of > no one (save, possibly, Claus, Akira, oryourself) who would be > prepared to accept a certain quantity of gold inexchange for their > property. I know that if I wanted to sell propertylike a house (which > I don't own) or a boat (which I do) I wouldn'taccept gold as payment. > To begin with, I would have no confidence thatit was real or that it > was 'pure'. I certainly wouldn't want to paythe extra expense and put > up with a delay to hire an appraiser.Also, I would feel very > uncomfortable accepting gold from a securityperspective (I'd much > rather receive a bank check). And then I'd have thehassle and delay > of selling the gold. And -- given the frequent fluctuationsin the > price of gold (yes, gold _does_ have a price) -- I would > feeluncomfortable holding on to the gold since I am not interested in > goldspeculation. And -- more to the point -- I know of no one in > mycommunity who would accept gold as payment for property of > anysignificant worth. If someone went to my landlord's office and > proposedto pay for real estate in gold, s/he would get laughed out of > the office. In solidarity, Jerry PS: thanks about the reference to > "course." I guess it's anotherinstance of how language has changed > since Marx's time. Martha,Fred, and you have each in your own ways > helped to solvethe "mystery."
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