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Show KIISIMJ TIIK I'llK'K of ;)IJ StrmiKoly enounh, there's no economic subject the average clti-ten clti-ten knows less ubout tbun money. He used it daily, but the tokeni with which be barters, uren't really money at all. Their only value lies In the credit of the Kovcrntnetit Issuing them. Real moimy is seldom aeon It Is gold and Is Jealously boarded by treasuries. As a result, the average citizen was pretty well puzzled when the 1'. S. Government announced that it had started a world gold buying buy-ing campaign ln an effort to raise commodity prices. He couldn't see the connection. As a matter of fact, the connection is simple enough if simply explained it's very much like an auction. The more people you get to bid (or an object, the more valuable it becomes. That's true of gold. When the I'nited States wen into the market there was another anoth-er important bidder for the yellow yel-low metal, and its price rose accordingly. At the same time, the value of the dollar, which has I a definite gold backing, declined, and comodity prices went up. Hriefly described, the dollar has been cheapened, and it is worth less wheat, clothing or gasoline than it was a while ago. At the moment, the -..nrld's free gold supply, if melted down, would amount to a ten-foot cube. worth about $ 400.ooo.ooo. Since 14'.'.'. when Columbus discovered i the new world, all the gold mined min-ed would amount to only a 4- foot cube and over half of that 1 has vanished, either through be-j be-j ing sunk in ships, made into Jewelry, oj hoarded. j Most important foe of the I'. ; S. gold rohcy is the British Em- plre. London is the world's lars-, lars-, est gold market, and any buying compaign will naturally center i there. Ivd'.ars are exchanged for pounds, in order to buy in the i Kr.g'.tsh market, thus increasing I the international supply of Ani-i Ani-i erican currency and increasing i the demand for English currency j A more expensive pound must follow, discouraging. Britan's for-. for-. eiga trade. Matters are at a deadlock. It's going to be a , monetary battle of the giants, j w.th the two greatest financial ! powers of the world opposed. |