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Gold/Mining/Energy : Gold Price Monitor
GDXJ 90.35+0.4%Nov 6 4:00 PM EST
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To: Square_Dealings who wrote (72950)7/6/2001 1:48:38 PM
From: marek_wojna  Read Replies (3) of 116753
 
Micheal, this is how derivatives works. Bank has as an example 1000oz. of gold. Now they write 100000oz of certificates collecting and using the money equal to 100000oz, knowing that people trust the certificate and the chance is slim they will demand all at the same time. If they do bank will say simple "NO" and offer them cash, if ever. If an individual tried the same trick he is going to jail. This is most simple form of derivative. Should ask Hutch for all possible tricks public is not even aware of.
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