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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 375.96

-1.8%

Nov 14 4:00 PM EST

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To: Riskmgmt who wrote (4128)	2/9/2006 1:29:24 PM
From: Maurice Winn	Read Replies (1) of 217825

Ray, are you this Ray Smith? google.co.nz It's hard to be unique in cyberspace. There are a few Maurice Winns floating around. NZ in the 1980s was a financial wild west, stacked up with debt used as collateral for further debt. People would borrow on their houses to buy companies which were pumped up with debt after another company took them over by borrowing on their already indebted assets and doing a share swap. Not surprisingly, in October 1987 the whole thing came crashing down and NZ was shown to have NOT discovered a brilliant new financial management process. The crash here made that in the USA/UK etc look trivial. NZ did not recover for a decade. The USA bounced back in a couple of years, thanks to our great and estimable idol Uncle Al KBE who had just taken over the financial tiller. Ray Smith and Goldcorp had the bright idea of using gold as a financial instrument and people could "own" gold which they would keep in the Goldcorp vaults. As usual, somebody wanted to trim a bit for themselves as do all currency spivs who are not happy just to do their job honestly and be paid for their services. I don't recall whether they sold gold twice [always popular] telling two people they owned the same lump of gold, or what they did wrong. When you stack up gold, it attracts thieves of all descriptions. Since gold is fungible, they can steal it and sell it. It's tough to steal a QCOM certificate, or the intellectual property, or the employees. China and others are of course doing their best to be thieves, as is their nature. Mqurice

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