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To: pater tenebrarum who wrote (53572)	7/28/1999 6:46:00 PM
From: Ilaine	Read Replies (1) \| Respond to of 86076

Why is betting on gold betting on BK? I surmise that gold can go up for other reasons: 1) Survivalists stockpiling for Y2K; 2) Interest rates can go up, and gold is a hedge; 3) Devaluation of Asian currencies, again gold is a hedge. The unknown is how much the price of gold is the result of market manipulation by central banks ~ if the price is artificially inflated, then it can keep going lower. That's what makes gold a rummy investment. BWDIK

To: pater tenebrarum who wrote (53572)	7/28/1999 7:34:00 PM
From: John Pitera	Read Replies (1) \| Respond to of 86076

Heinz, I was reading that a guy I know shorted gold at the end of the day on Oct 19th 1987, he says it gapped down 20 buck the next day, so maybe a BK would not bring a reversal in gold. that said people like gold jewelry and it has been a store of wealth for 6000 years . Gold is not dead, you just need a bear market like this to correct the mania that we saw in the 1970 to early 1980's in gold and the other precious metals. We are probably pretty close to a turn time wise...ie within a year may less.