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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.06

-1.4%

4:00 PM EST

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To: Follies who wrote (22049)	10/21/1998 1:51:00 PM
From: Alex	Read Replies (2) of 116762

The Street\dale. If you click on the link you will see that it was a direct quote from the article. However, if it will make things easier for those in a rush, I will try to use quotation marks on such cuts in the future. Being Canadian, I know little about the Libertarian (sp) Party although I subscribe to Adrian Day's newsletter and I believe he is one. Two thoughts. First, I'm a goldbug, and IMO it has been the trend towards globalization over the last number of years that has contributed greatly to the fall in the gold price. It has brought on deflation. Second, I believe that there were a couple of other prizes given out to two fellas on LTCM. They didn't like intervention either, well at least initially. They were even chartered in the Cayman Islands to avoid it and taxes. We all know what happened next. Meriwether vetoed a private takeover by Buffett because it would have resulted in his having to go.How the manager of a bankrupt fund maintains that sort of power is beyond me. But Allan Greenspan 'backed' him on this and arranged a bailout of this fund by taxpayer insured banks. This 'do as I say, not as I do' attitude rubs me the wrong way. 'To big to fail' ? What about the entire commodities sector? Where's Santa when they got in trouble? I am not a screaming socialist, but do believe that healthcare and education should come before bailing out the risk takers. But if my hunch is right, stay tuned. There's lots' more government intervention to come in the free market.

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