King wrote that the idea of picking up a couple of gold bars at the AGM has a certain appeal. The idea will have gold bugs excited but paying dividends in physical gold raises many more issues than simply paying them out in cash or by cheque.
It's all part of a radical plan to turnaround under-performing gold equities. While the price of gold has risen more than 200 per cent since 2006, major gold stocks were flat over the same time, according to Nick Holland, CEO of South African miner, Gold Fields Limited.
Neil Woodyer explained that in his view, people will love it. They could take it in cash if they wanted to, but we produce gold and that should be our currency. While the logistics of paying all shareholders in gold "boggles the mind", Neil Woodyer suggested that with a large number of significant shareholders on Endeavour's register, distribution of the gold would be relatively simple. But a corporate friend said that paying 'Pty Ltd companies' in gold would be near impossible.
It is at this juncture we can bring in the history of the European Jewish diaspora where gold and other precious stones were one of the trades or guilds that Jews were allowed to be engaged. Many of the traditional trades Jews were forbidden to participate and therefore they concentrated their skills in other areas, one of these were precious gems.
Many Jewish families over centuries built up substantial wealth through precious stones, they were recognised currency. In 2005 I was part of a 48 invited international person Bridges of Peace tour of the Polish Jewish holocaust which culminated in the March of the Living program at Auschwitz-Birkenau.
We spent two days in Krackow, the heart of the pre WWII Jewish traditional community and the centre of the European precious stone trade. Much of Poland's hidden wealth was housed in Krakow and the subsequent Nazi Holocaust saw legends of stories of Jewish people swallowing their precious stones as they were rounded up, so as to keep them hidden.
The dramatic television series of the 1970's War and Remembrance illustrated how instructions came from Berlin to unearth huge buried pits where Jewish slave workers engaged in the grisly task of searching for these precious gems in the decaying body remains of those Jews executed in mass murders.
Today's New York diamond trade
The world's most famous diamond trade centre is located in New York, it's a place of trust as everyone knows everyone else in the trade, and a concentration of Jews who established the centre in the 1920's. (en.wikipedia.org)
With the Nazi's coming to power in Germany in the 1930's the New York diamond trade centre gained its real significance where it became a safe haven for European diamond wealth.
Today, total receipts for the value of a single day's trade on the block average $400 million. There are 2,600 independent businesses located in the district, nearly all of them dealing in diamonds or jewellery.
Most are located in booths at one of the 25 "exchanges" in the district. Many deals are finalised by a simple, traditional blessing (mazel und brucha) and handshake. The Diamond Dealers Club â€" also known as the DDC â€" is an exclusive club that acts as a de facto diamond exchange and has its own synagogue.
The Bible is replete with notations to precious stones including gold and rubies and diamonds and the like. God's gift of a dedicated and committed wife is described as a precious ruby.
The same applies today, a truism proven over and over again is that a wonderfully supportive spouse in Christian work (clergy and laity) makes or breaks a ministry.
In our 36 years in Christian ministry and marriage, my wife Delma has encouraged and supported my ministry endeavours, some ideas have been pretty wild with a modicum of veracity and loads of faith, and with careful nurture and Delma's common sense and wisdom, they have come to remarkable fruition. Indeed a precious ruby.
Dr Mark Tronson is a Baptist minister (retired) who served as the Australian cricket team chaplain for 17 years (2000 ret) and established Life After Cricket in 2001. He was recognised by the Olympic Ministry Medal in 2009 presented by Carl Lewis Olympian of the Century. He has written 24 books, and enjoys writing. He is married to Delma, with four adult children and grand-children.
Mark Tronson's archive of articles can be viewed at www.pressserviceinternational.org/mark-tronson.html