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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.04

+0.4%

Nov 11 4:00 PM EST

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To: IngotWeTrust who wrote (4908)	12/29/1997 11:37:00 PM
From: PaulM	Read Replies (2) of 116756

O/49er and all, Rubin aint pitching a perfect game. Won down 21%. bloomberg.com (Check em quick, the stories change often). Somewhat surprising that this isn't a bigger story. What with all the hullaballoo about the latest magic bullet. All the Kings men managed to inspire confidence in every equity market EXCEPT S. Korea's. The story also raises another possibility: Rubin and the rest generate enough confidence in S. Korea with a view to causing a short term (in this case three day) sucker's rally in the won. This opportunity is now seized upon by indebted S. Korean firms who get to exchange their worthless won for (somewhat less worthless) foreign currency. And voila, their short term debt obligations are relieved. Cynical, I know. But if true, slick, very slick.

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