Gold may go on the US market

GOLD REACHED $92 an ounce on the London bullion market yesterday morning as a result of the news that the United States senate has approved the purchase of gold by American citizens.

The measure, which has still to pass the House of Representatives and gain presidential approval, would extend the scope of the 'free' market considerably. Private US citizens have been banned from 'In this strange climholding gold for Rate a new breed of almost 40 years. analyst is flourishing The Nixon adminisamong those great cathetration is opposed drals of Mammon which restoring the right of soar into the blue Manprivate citizens to hold hattan sky: Superbear, Ursa Major, the PessiIt claims this would mist extraordinary who lead to a further deficit fearlessly predicts a rein the balance of payrun of the nightmare of ments caused by the 1929 when the great import of gold to supply post-war bull market home demand. finally came crashing The private gold mardown with a terrifying ket was reopened roar that haunted the Japan at the beginning dreams of a generation.' of this week and dealing was reported to be Campbell quotes Wilbrisk with large amounts liam Tehan of P. R. of gold entering the Herzing and Co, an country for sale. analyst who is investing The rising gold price all his money in 19th is, above all, a reflection century gold coins. of the decline in the 'The present currency value of paper money. crisis, Tehan says, *is While gold rises on only the first stage of a the bullion markets, the money panic that will dollar continues to fall. crash in history, Greatest In early trading yesterday it fell another 16 points against sterling. He adds: "The crash will be the worst in The collapsing dollar, floating anarchy in the history because we have money markets, infla- never known a time when all the currencies ion and the zooming of the world are so inrice of gold are pro ducing 'a queer mood' flated. on Wall Street, accord- 'In the 1930s at least ing to 'Evening Stan- the dollar was still dard' columnist Jeremy sound and fixed to gold. Campbell. 'England abandoned 'One man describes it her role as the mainstay as depression sometimes of the monetary system tempered by mere de- then, but the world jection. could turn to America 'Another talks about for help. "a sense of fear, a ris- 'Now the dollar is in ing of all the demons default and the world and goblins of the has nobody to turn to. dreadful past" Nobody at all.'