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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: lorne who wrote (30595)	3/24/1999 1:53:00 PM
From: IngotWeTrust	Read Replies (2) of 116764

LorneSez/ReutersSez/FRBsez: U.S. banks have learned their lessons from last year's near-collapse of a major hedge fund,... I laughed outloud when I read that line from your Reuters' post, Lorne. Oh, yes, one can bet they learned something alllllllright. At minimum, they learned A) who to go to/to do business with ( as in "which bigger fish" they can lay their counterparty risk off onto...) not just here but globally. B) what amount of money critical mass is for gaining the FRB bailout committee attention, i.e., what percentage of actual money on hand they needed to maintain to offset their 200:1 leverage plays C) they learned that the Fed will see to it that they do not fail after they loss tons and tons of investor "risk capital" D) they learned how to better hide their trading losses so that their 200:1 leverage game doesn't really show up E) and finally they learned that if you are BIG PLAYERS you don't have to meet margin calls...the FRB will meet them FOR you. Don't you just LOVE America where we're all treated equally in the level playing field called the "markets?" LONG LIVE FRACTIONAL BANKING...the goldbug/prospectors best friend since the 16th Century acc'd to Sunday's London TIMES copy/pasted here earlier! O/49r

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