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Gold/Mining/Energy : Gold Price Monitor

GDXJ 124.11

-13.6%

4:00 PM EST

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To: Alan Whirlwind who wrote (68123)	4/23/2001 11:25:58 AM
From: Rarebird	Read Replies (1) of 116943

Australia's foreign debt climbed by $A 77 Billion last year to reach the sum of $A 440 Billion. That means that Australia's gross debts stood at $A 363 the previous year. Since they have gone up by $A 77 Billion, it follows that their GROSS DEBTS have climbed by 21.2% in one single year! That's like using the nation's Master Card for short-term purposes. The Reserve Bank only has $A 5 Billion, in short-term cash. That's not so good. Australia owes $A 19.5 Billion on the international plastic and there is only $A 5 Billion in the Aussie cash account. If a big bill arrives, there won't be enough. Even if only small bills arrive, Australia can't use its Master card for much longer. About all the Reserve Bank and the government can do is be nice to whoever shows up, and then nip out the back and sell something - fast!

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