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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.70

-0.3%

Dec 5 4:00 PM EST

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To: Mark Bartlett who wrote (20760)	10/5/1998 10:59:00 PM
From: Giraffe	Read Replies (1) of 116796

>>The IMF selling their gold could have just the opposite effect they intended ... it could signal to the world's economies just how desperate the situation has become. That could be the death knell .... they would be better off to give the gold to the countries that are in trouble << The reason gold jewellery is so popular in much of Asia is that it is a woman's last hedge against starvation for herself and her children. When hard times hit you first do what you can to scrap together some money but if it reaches the point that you've exhausted all your resources and your relatives and friends can't help you at least you can keep yourself alive by selling your jewellery. If the IMF has run out of cash and exhausted the goodwill or resources of its patrons it might have no choice but to sell the family treasures. But everyone will be wondering what the heck they're going to do for an encore when THAT last bit of money is safely in the pockets of the mafia in Moscow.

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