The price of gold was fixed at $35 after WWII. President Nixon allowed gold to float freely against the dollar in 1971. The London fixed price has climbed precipitously in the last two years to achieve and all-time high against the dollar and people in the USa and other countries are eager to monetize old jewelry to pay off bills. Today a young man came into the diamond exchange with 7 Krugerrands.
“The best price I got was $1230.”
“I’ll match it.” It was the end of the day. A foundry was offering $1240 an ounce. I stood to make $70 from the deal. The customer said ‘yes’. I completed the transaction within 20 minutes. $20 to me and another $50 for Manny, my boss. All legit, but as I held the 7 Krugerrands in my hand I was amazed at the weight. They were heavy and I thought back to a phone call that I had received from Fox News earlier in the day.
The staff of an afternoon show was looking for someone to provide gold coins for a segment about the rising price of gold, its value as an investment, and the corresponding value of guns.
“Excuse me.” I wasn’t sure that I had heard the caller correct.
“Yes, we want to explain to the viewer how gold is a good investment in a time of danger. As is a gun.”
“What is it that your actually need?”
“About 200 gold coins.”
“You mean $200,000?” Actually more, but I was rounding out the math.
“Yeah, something like that.” The man on the other end was no intern. He was a Kool-Aid drinker. His voice oozed enthusiasm for the collapse of civilization. “We want to promote gold as a good investment for the future and guns as a way of protecting that investment.”
“I have to agree with you that gold is climbing fast against the dollar, but have you ever tried to walk with a pound of gold in your pocket.” Gold was one of denser elements on the periodical table. “A million dollars would weigh more or less 50 pounds. You ever try running with that. We are more into diamonds in my business. A million dollars could be one stone.”
I had seen two D color Internally Flawless Round Brilliant earlier in the morning. One would buy seats for your family out of any city and the other diamond guaranteed a new life anywhere in the world. A gun would help in desperate times.
“We are aware of the weight.” The Fox News producer hadn’t expected any resistance to their dogma. The Tea Party had trounced several GOP primary candidates. They were hoping for a revolution. “The host wants to be surrounded by gold and guns. Financial and physical protection.”
“Just a second.” This wasn’t my call. Manny was my boss. I explained what Fox News wanted from us.
“Are they going to mention our name?” Any free publicity was good in these times.
“I don’t think so.” At best we would get a line at the end of show.
“Then tell to stop wasting our time.” Manny had voted Democratic in yesterday’s primary. He was more a communist than Democrat. Same as my dad. Class traitors.
“Sorry, but we were too busy trying to make money off the rich.” They were our best clients.
“The rich?”
“Yes, they’re the only people with money.” Fox News viewers were too broke to buy jewelry. Food, housing, and credit cards were their expenses. Not a diamond tennis bracelet. Everyone was broke, except for the rich. “Thanks for calling. Next time give us a little head’s up and we might be able to help.”
“One more thing.”
“What?” The producer had lost interest in me.
“We want people to feel safer. Not scared. Scared people don’t buy diamonds.”
“Yes, but…..”
I hung up and went back to writing an email to a wealthy heiress in Santa Barbara. She wanted big South Seas Pearls. $50,000 each.
They were worth every penny.
Both today and in the future when civilization stops.
It won’t be long now.