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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: Alex who wrote (22727)	11/8/1998 2:33:00 PM
From: Oak Tree	Read Replies (2) of 116789

There is lots of talk about lenders not wanting to lend and the doomsday deflation. <<a situation where creditworthy borrowers are shut off from access to credit not because of high interest rates but because of the unwillingness of banks and credit institutions to lend.>> I don't buy it. Banks for example are fighting over customers for their 6 and 7% home loans. I see no evidence that they are refusing anyone a loan. I've seen home loans that are 4 times or more a persons annual salary. I've seen loans that large for people who are moving and still have a home they have not yet sold. All this on a background where home prices are relatively flat. Likewise, billion $ loans, with excellent conditions are being given freely to countries with little or no hope of begining to repay those loans for the better part of the next decade. I'll bet that if Brazil collapses, people will be fighting to get back into that country with loans at high rates, but not all that high. What is the evidence that loans will get tight?

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