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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

4:00 PM EST

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To: long-gone who wrote (22624)	11/5/1998 1:32:00 PM
From: Giraffe	Read Replies (2) of 116779

This bit seems very favourable for gold. Not that it will actually happen. :) There is already under way a number of initiatives that, if effectively implemented, should significantly tighten international financial system discipline. These initiatives include: endeavors to promulgate standards of bank supervision on a global basis, initiatives to markedly increase transparency of central bank accounts, more prompt and detailed data on global lending, compliance with codes for fiscal transparency, plus moves toward ensuring sound corporate governance and accounting standards. Areas crucial to increased discipline, where consensus has yet to be reached, include appropriate bankruptcy and workout procedures for defaulting private sector entities, new arrangements for risk sharing between debtors and creditors, and ways to limit explicit and implicit government guarantees of private debt. Central banks that fall short of the "best practice" requirements to be full participants in the international financial system would doubtless be under exceptional pressure to improve.

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