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Gold/Mining/Energy : Silver prices

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To: long-gone who wrote (1402)	11/17/1998 11:04:00 AM
From: AurumRabosa	Read Replies (2) of 8010

Probably no one has gold funds available for their 401k plans because the track record of such funds is abysmal and the company would get sued by their employees for short-changing their retirements. How could the people that say don't buy gold out one side of their mouth and sell it short out the other have any influence over which funds are available in various 401ks? They have none, IMO. Reminds me of a story. You know there are no "insider trading" rules in the commodity markets. A big company (I think I remember the name but just in case I'm wrong I'll omit it) claimed they'd developed this platinum radiator that was going to clean the air as it swept through the air as you drive your car down the road. They sent their VP on the TV talk show circuit at the same time as their commodity trading department made a bundle first going long and then going short. Legal, yes. Ethical, not in my mind. On the subject of scoundrels in the mining industry I have to offer my 2 cents worth. The most incompetent managers I've ever seen are in the "junior mining" arena. Some are incapable of doing rudimentary arithmetic and cannot make or follow a budget to save their lives. Some call themselves "geophysicist" without having completed a college degree. I have a degree in physics and I assure you no one can pick up geophysics working as a field hand. Since when was stockbroker a prerequisite for executive manager of a mining company. How many stockbrokers can you find in the industry? They're hucksters and have no qualms about fleecing investors for money that will be squandered with nothing to show for it. I've seen stockbrokers take over a mining company and dilute the stock into oblivion by feather-bedding their nest and their co-conspirator's nests. I have nothing against stockbrokers just the unethical kind that manage public companies and have no sense of fiduciary responsibility to their shareholders. Are there competent trustworthy junior mining executives out there? Yes, and my condolences to them for trying to hold their head up in this sea of sewage some call an industry. Why aren't there more shareholder law suits? I'm not familiar with the securities law in Canada but I guess the Canadian legal laxity is the reason most of these companies list on their exchanges.

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