Toronto analysts hear Embry predict $500 gold by year-end, explosion in silver

Section:

1:28a ET Wednesday, May 26, 2004

Dear Friend of GATA and Gold:

GoldenSextant.com proprietors Reg Howe and Bob
Landis have posted, with some insightful
introductory commentary, the plan of the Mexican
industrialist and economic reformer Hugo Salinas
Price for the remonetization of silver in that
country.

As Salinas Price notes, in principle his plan would
serve equally well for the remonetization of gold or
silver in the United States and other countries. It
gradually would put precious-metal coins into
circulation along with fiat currency and, by minting
the coins without face value in fiat currency, insure
against their being withdrawn from circulation and
melted for metal value amid the fiat currency's
inevitable devaluation.

Salinas Price's plan suits perfectly GATA's
essentially libertarian view of money. It would give
people a practical choice of currencies to transact
commerce and save in. And for once Gresham's Law might
be repealed or at least suspended, as GOOD money might
drive out BAD -- not that good money may need much
help before too long.

For as Salinas Price observes, the current world
financial system, falsely premised on an infinite
supply of money all the time, as if the world's real
goods and services themselves are infinite all the
time, may fall of its own weight -- or, rather,
suddenly dissipate into its inherent weightlessness.

Salinas Price has figured it out, found a path to
the future using the light of history, and thus
financial interests may find him about the most
dangerous man in the world, ranking up there with
GoldMoney founder James Turk, editor of the
Freemarket Gold & Money Report and consultant to
GATA, who also is engaged in giving the world a
choice of money.

You can find Salinas Price's plan, along with the
GoldenSextant's commentary on it, here:

http://www.goldensextant.com/

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Ted Butler silver commentary archive:

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----------------------------------------------------

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----------------------------------------------------

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