Newspaper article The Christian Science Monitor

Letters

Newspaper article The Christian Science Monitor

Letters

Article excerpt

Governments Will Still Seek Security of Gold

"For All the Gold in Fort Knox, It May Not Be Worth Keeping," (Nov. 5) notes that gold may soon earn the "barbarous relic" sobriquet suggested by John Maynard Keynes. The article cites a proposed sale by Switzerland, ongoing sales by various central banks, and a proposal to sell Fort Knox gold reserves as being indicators of lessened value for this precious metal.

The proposed sale by Switzerland must be approved by parliament and by a vote of its citizens. In this period of worldwide currency unrest and devaluation, it will be interesting to see if the conservative electorate there will permit a weakening of their traditional hard currency. In addition, if spreading currency problems in Asia signal an end to fiat money - not a completely remote possibility - it would seem that prudent central bankers would increase gold reserves, particularly in view of the US dollar's status as the reserve currency vis-a-vis our uncomfortable and growing current account deficit. Japan's Prime Minister Hashimoto recently threatened (and then denied) a sale of US treasury paper and the purchase of gold in its stead. A "barbarous relic," I wonder? Donald L. Jensen Cody, Wyo. It's not whether you win or lose In response to "Cultural Struggles on the Soccer Field" (Nov. 21), Andrew Schmookler's opinion essay, I would like to suggest to him that if his son's drive to be a perfect soccer player is not satisfied by the coach - who is, after all, only a volunteer - then perhaps the son needs a little extra coaching on the side from soccer dad. And if Mr. Schmookler really has an inspired vision of what coaches should do, perhaps he should become Coach Schmookler himself next season. My husband adds (with mischievous delight) that after he masters that challenge, he should try being a referee. The point really is not whether the coach in the article has a misplaced loyalty to '60s idealism, but whether a volunteer coach can ever live up to each parent's unique view about the values and lessons that need to be drilled into eight-year-olds on a soccer field. For my children, each season brings a completely new lesson in group dynamics. …

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