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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: Defrocked who wrote (14378)	7/10/1998 7:47:00 PM
From: IngotWeTrust	Read Replies (3) of 116756

Spoken like a true egghead PhD of Finance. Sheesh! I AM a derivs player. I know I'm laying the risk off on someone else willing to "take it" or else I wouldn't have laid it off in the first place. To blame Orange County debacle 100% on the dumb cty treasurer who couldn't rub two county nickels together to pay for his open deriv positions, and for Merrill Lynch writing firm who "called" his deriv hand,--to which they just ante'd up either $400 or 600 million in payback just this spring, is to undercut every rosy scenario you just painted of the pure as the driven snowderivs writer OR buyers. No wonder you sign your name Defrocked. What a crock! Opps, that was a misspelling. What a crook! Derivatives based on derivatives based on derivatives based on derivatives is just a 80s/90s version of "when the music stops..." And stop it will. Then we'll finally hear the yeowling... from both the ones who took the risk screaming unfair, and the derivatives writer who will plead "innocent louse." If you're going to talk about derivs from something besides a virtual reality/fantasy options parallel world, at least bother to make up something more palatable. There isn't enough catsup in the world to make what you just wrote swallowable!! Of course the Fed Res. and BillyRubin don't want CFTC "newbie" to bring the house of cards down. Besides, what are they afraid of? Everyone who doesn't know that Rubin and GreenExpand are up to their baldspots in the markets themselves for personal gain BTW, are just to green to worry about. Talk about a mouse scaring the elephant. Just because the "good ole boy past CFTC chair" was willing to look the other way doesn't make abstract derivs with NO basis in physicals right or riskless. I won't even deal with the fact that more than one "little lady" has brought the spend-thrift irresponsible male up short on a reality check. I say more power to her and others like her...all over thew world. *Ole "calling a spade a spade" 49r* PS...I suppose you're also an owner of a fantasy baseball Jr. Griffey deriv???

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