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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Ironyman who wrote (29152)	2/27/1999 8:52:00 PM
From: Alan Whirlwind	Read Replies (1) of 116759

Yes, I looked it over. At first glance I thought it was some crazy scheme like in Korea where the people were being asked to turn in gold to save the country. Here apparently they're trying to get a step ahead by convincing people to buy Bonds backed by gold so the currency either keeps circulating or is finds use as loan capital, thus improving their GDP rather than sitting listleslly under someone's matress. And it would cut imports at the same time. The end effect is the same though, since one can imagine if the project was embraced by the people and then gold went up a hundred bucks, their gold would be gone, their country would be without a fallback resource, and they'd be left with some pretty fancy schmancy toilet paper. --Alan

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