From: Gerald_A_Levy@MSN.COM
Date: Tue Dec 07 2004 - 04:55:02 EST
> The dollar is socially acceptable. In this case gold's function, > which remains as the universal equivalent, reamisn the commodity > which by its nature is most suited to expessing the social, abstract, > nature of human labour under capital, continues to exist, to guide > the process from behind the scenes... <snip, JL> Paul B, On what basis can you demonstrate that gold remains the "universal equivalent"? As far as I can tell, your assertion rests solely on the claim that central banks continue to hold gold reserves. > Why is there any gold at all at Fort Knox? Why do the Europeans > keep gold in the Fed? That is the question to be asked... That is a question that I have already answered (see my 12/5 reply to Claus with the subject title "why do central banks still hold gold reserves?"). In solidarity, Jerry
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