past three headlines have been held by the roller-coaster performance of world gold political event has been immediately translated cash:
Afghanistan? 50 dollars much for a second-hand Shah of Iran?' *20 dollars an ounce!' After a nerve-racking week for financiers in which the price shot up from under 600 dollars to over 800 dollars (and trading on the New York 'futures' market bought for delivery at some allowing • speculation on taking dollars) the inevitable unmaking not a few capitalist fortunes on the SWAL The immediate cause of this unseemly public carnival capitalist immense amount of money that is floating around the world today looking for any way to turn a fast dollar, pound, franc, etc. The growing concentration of the hands of a few firms especially corporations and financial institutions -broken down all the barriers between nations. branches of production, or commodities.
'Hot money will shoot from country to country, plans of exchequers, seeking a 1/16 of a per cent edee on the interest rate. buy anything that stands still long enough not at all interested in its practical use (what Marxists call its 'use value') but only in the fact that it is a commodity (with an once thereby enriching their pockets. Once the price was quite happily swished into sugaroney was quite happily switched into sugar copper.
prospect capitalist recession, with mounting inflation, has made investment in industry or stocks and shares somewhat unappealing. time some means of protecting capital against European capitalists are. busy trying to deny their workers, attacking the indexation schemes prevalent on the continent) is urgent. Bullion Gold bullion speculation is a pretty select lne key handles most of the gold from South Africa -consists of only five firms. you need to have abour £100,000 before you can ask one of these gentlemen to pick up a nice gold bar for you. If you want to go into the big time and enter one of the periodic gold auctions held by the International Monetary Fund (IMF, you will have to lay your hands on something like £500,000.
, rinanciers wil About 65 *exchange go up down, banks hands. •I a period of At the same 8000 as various efforts At present prices insurance involved.
One of the reasons why gold trading is so frantic is that only a small proportion of world gold stocks actually passes through the market.
per stockpiled in the vaults of the various central of the capitalist international agencies like the IMF. Another 6 per cent is held by the Soviet Union and China. Less than 30 per cent is in private capitalist Confidence Despite the repeated attempts of capitalist treasuries around the world to assure their citizens that the paper money they issue is 'as gold', and despite their to devise of avoids upon the limited supply of gold, they show even less confidence in than the financiers. Since stocks in the central bank vaults have been any medieval miser. They only see the light of day in cases of economic emergency.
The price of gold is like the premium on an capiralise: the higher ve is the greater the risk covering On present trends, capilalists seem 10. heavily the chance of their system living 1o a ripe old age.
world's gold is of repeated financing the world capitalist 1971 the future the world's writing down pretty A gold bar in the balance — price £100,000
| New report exposes 'UNJUST arid restrictive continue to prevai. With elections only & few weeks away, this situation should be considered extremely concerned to see the advent of freedom and genuine majority Zimbabwe people.' This is conditions seriously by all rule for the of Britishrule