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Gold/Mining/Energy : Silver prices

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To: TheBusDriver who wrote (3140)	12/16/2000 12:10:14 PM
From: Alan Whirlwind	Read Replies (1) of 8010

I will try to dig up some links later today. Russia in my opinion has dumped their stockpiles already. They did it when silver was over $6--at least that's my guess. They also produce, but their infrastructure is sorry and it will be less and less. Nobody wants to go into the former Soviet Union to invest in mining either because of the risk of nationalization after mines are refurbished--look at Goldbelt for example. Their entire Kazak operation was lost this way and they lost 95% of their share value. Phillipines and other countries also have dumped, but I think that small fry supply is about exhausted. Much of it may have been leased out. Who knows what kind of derivatives are involved with such temporary swapping of metal. China has dumped 70 million ounces last I heard and in my view, the markets absorbed it all with minimum damage. Of course, the present price undoubtably represents damage to some. China will probably reach a point where they consume what they produce. It's still looking bullish. When oil was at $11 a barrel there where prophets telling us how it was going down to $5. I suppose silver could spike down to $4.25. But the upside outweighs the downside by quite a margin.

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