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Gold/Mining/Energy : Gold Price Monitor

GDXJ 128.07

+0.7%

Jan 16 4:00 PM EST

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To: Jim McMannis who wrote (42270)	10/6/1999 6:01:00 PM
From: Ken Benes	Read Replies (1) of 116893

Jim: That is the key, it is not in the best interest of world finance. It is easy to envision a cascading effect, the bullion banks go belly up, the dollar continues it slide for other reasons, and there is upside pressure on interest rates. These last two would have there own implications for the derivative markets. The global fire squad would have trouble dealing with one of the above markets imploding, all three would be near impossible. I agree with you, gold may be the easiest to contain, albeit prices may stabilize at or around the 300 dollar level, affording many of the gold derivatives to be unwound without seriously damaging the global landscape. There is a lot riding on this, we are on the cusp on some interesting times. Ken

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