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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Bill Murphy who wrote (35617)	6/20/1999 9:27:00 PM
From: PaulM	Read Replies (2) \| Respond to of 116836

G8 Hails Summit to Stem Market Speculation "The proposal seeks to stamp out the so-called ''moral hazard'' problem in which banks lending to risky economies have been shielded from losses by public bodies such as the International Monetary Fund...." "The G7 also endorsed proposals to improve disclosure by hedge funds, aggressive investment vehicles that have come under intense scrutiny...." dailynews.yahoo.com P.S. I think this is very, very significant, especially for gold. Without unlimited bailouts and special, favorable rules for funds working in the international sphere, markets will begin to behave very differently. Perhaps the agreed upon sale of gold is to balance out what is overall a very-bullish-for-gold change in policy? According to some Asian officials, it was certain hedge funds that sparked the Asian financial crisis. (Interestingly, that also happened to cause a reduction in Asian gold demand and dishoarding.) It is also certain hedge funds that are largely short gold. And its is central bank support, a non-disclosure policy and bank liquidity for these funds that allowed this to continue. This could get exciting.