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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.67

+5.0%

Nov 10 4:00 PM EST

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To: long-gone who wrote (20487)	10/2/1998 10:20:00 PM
From: waldo	Read Replies (2) of 116753

USAGOLD Forum is hot tonight: usagold.com <<Merrill's in deep. It's obvious. How does the Chairman of Merrill Lynch lose $22 million of his own money in LTCM, not to speak of what was lost by ML, and then lead the charge for a Fed brokered bailout? I can see why certain Senators, including the Chairman of the Banking Committee are talking about a full blown investigation of this debacle.>> <<This is indeed fascinating. Here we have one of the financial institutions that agreed to bailout LTCM now on the verge of going under itself. Lehman's problems revolve around its mortgage portfolio. There were additional rumors, reported by Reuters, that Bankers Trust borrowed heavily at the Fed discount window because of its exposure in the hedge fund, Omega Advisors, Inc. The New York Fed denied any such borrowing. Do you get the feeling that things are spinning out of control?>> <<Watching AG, Rubin beg for money to the IMF should give us a clue. CLinton literally went off on this subject today and I believe that should tell you something. The IMF is the clue here to a move for gold going not to 350 or 400 but to 600 or better. What the IMF does is soak up liquidity and keep the money supplies of the world down. By issuing bonds to soak up liquidity and not having to print money to be placed into the real world the IMF was able to keep inflation down. Bonds soak up liquidity and cause financial inflation which does the gold bugs harm.>> W

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