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From: tdh@frog.UUCP (T. Dave Hudson)
Newsgroups: net.politics
Subject: US gold coins
Message-ID: <269@frog.UUCP>
Date: Thu, 15-Aug-85 13:54:56 EDT
Article-I.D.: frog.269
Posted: Thu Aug 15 13:54:56 1985
Date-Received: Wed, 21-Aug-85 06:04:12 EDT
Reply-To: frog!tdh
Organization: Charles River Data Systems, Framingham MA
Lines: 23

> 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