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

To: Hawkmoon who wrote (36163)	6/29/1999 10:08:00 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 116895

<<Hmmm... but wouldn't that be contrary to public statements by Rubin and others that the US is not selling gold? And wouldn't that require approval of congress? >> In theory... but I read it was a temporary loan to the market... <g> Anyway, coins are not more than a few millions ounces I think... and part of the investment demand numbers. Lets stick to the real equation that guarantees the future of gold: Fabrication demand - Production = big growing deficit now at 1500 tons a year.

To: Hawkmoon who wrote (36163)	6/29/1999 10:41:00 PM
From: Jim S	Respond to of 116895

At the risk of incurring the wrath of some, my buddy Rush made a good point today: Remember back in '92-'93 when Clinton and his esteemed economic team fought for, and achieved, the shortening of US debt obligations? As I recall (please, don't hesitate to correct me if I'm wrong <g>), the National Debt instrument was reduced from an average of 18.6 years to an average of 12.3 years, thus saving a huge amount in interest payments from the Treasury. Those pigeons may now be coming home to roost. If interest rates rise, as seems certain, those short term debt instruments will have to be reissued at higher rates when they come due, raising the payment obligations of the Treasury. I'm sure it is just coincidence that the "first string" of Clinton's economic team is gone or on the way out when rates begin to go back up again. And, it will be "pure happenstance" that the National Debt may begin to rise just when Clinton is leaving office. I stand in awe of the hutzpah of this administration. jim