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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.75

-0.5%

4:00 PM EST

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To: Bobby Yellin who wrote (6933)	1/29/1998 7:56:00 PM
From: PaulM	Read Replies (1) of 116791

"a lot to be desired." Agreed. Especially surprising to me was his buying into the assumption that currencies and markest in Asia have now seen their worst. Apparently he expects the new years holiday to last forever. As best as I can tell, aside from the holiday, Asia's reprieve stems from Japan bolstering the Nikkei (because they must in anticipation of March 31) and debt freeze proposal in Indonesia (meaning that Indonesians no longer need to sell rupiah for dollars to pay off dollar obligations) We can be sure Asia has already affected our financial insitutions in ways that just aren't acknowledged. If there is a debt freeze in Indonesia, shouldn't that mean a write off? I suspect a good deal of the asset base of financial institutions all over the world exist only through accounting constructs that have little to do with reality.

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