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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.03

+3.0%

Nov 7 4:00 PM EST

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To: Zardoz who wrote (32801)	4/29/1999 12:41:00 PM
From: lorne	Read Replies (3) of 116753

Hello Hutch. I have a question that maybe you or anyone can help me understand. About a week or so ago I posted an article that indicated that the debt owed by poor countries is in excess of 350 billion $.and powers that be are looking for ways to forgive this debt. moneynet.com@NEWS-P1&Index=0&HeadlineURL=../CategoryNews/CategoryNews.asp&DISABLE_FORM=&NAVSVC=News\Category This morn. Alex posted an article indicating that there is something like 470 billion $ in circulation. ......" A recent International Monetary Fund study - Monetary Policy in Dollarised Economies - suggests that over half of all the $470bn of dollar notes are held abroad. Average foreign currency holdings of countries that have borrowed from the IMF since 1986 are equivalent to over 16 per cent of total "broad money" - banknotes plus bank deposits."......... Question.....what is the relationship between the 350 and 470 billion. Question......if the 350 Billion debt were to be forgiven what effect would this have on the value of the US$. Question..... Who is losing and who is winning if debt were erased. Is the US$ so easy to come by that 350.billion could be wiped from the books without any repercussions. May not be any answers. thanks Lorne PS. guess the winners would be the poor countries

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