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To: Bobby Yellin who wrote (42863)	10/13/1999 11:02:00 AM
From: goldsnow	Read Replies (1) \| Respond to of 116762

Crude Oil Soars to $23 a Barrel After Report Shows U.S. Inventories Drop quote.bloomberg.com

To: Bobby Yellin who wrote (42863)	10/13/1999 11:33:00 AM
From: goldsheet	Read Replies (1) \| Respond to of 116762

Most people on this thread are noticing that xau is up now over 3.. Anybody have any thoughts? Gold stocks still seem to be underperforming gold bullion. goldsheet.simplenet.com We have a few issues to work out and some additional industry mergers to go. Australian shares seem likely to be served at "Le Consolidation Buffet Table"

To: Bobby Yellin who wrote (42863)	10/13/1999 11:43:00 AM
From: Richnorth	Read Replies (1) \| Respond to of 116762

I suspect the coup in Pakistan was instigated by the US CIA for several reasons. One of these reasons is to cause a flight of money into the relative safety of US bonds and Treasury notes with the effect of shoring up the dollar so that gold might be weakened somewhat. Another reason is to be able to gain a foothold in Afghanistan, sooner than later, to get at Osama ben Ladin (Public Enemy #1 of the US). Yet another reason is the OIL!!! in and close to that part of the world.

To: Bobby Yellin who wrote (42863)	10/13/1999 2:26:00 PM
From: Alex	Read Replies (1) \| Respond to of 116762

Interesting article on currencies with a mention of gold.................. 10/13/99 - Canadian economist Robert Mundell wins Nobel Prize for economics <Picture> STOCKHOLM, Sweden, Oct 13, 1999 (AP Worldstream via COMTEX) -- Robert A. Mundell of Columbia University, whose theories helped create a common currency for the European Union, won the Nobel Prize for economic sciences Wednesday for his analysis of exchange rates and how they affect monetary policies. The Canadian-born economist"s work has made contributions far outside esoteric academic circles by clarifying how exchange rates fluctuate when a government shifts from a flexible to a fixed monetary policy. Mundell"s most important work was done in the 1960s, the Royal Swedish Academy of Sciences said. He served in the research department of the International Monetary Fund from 1961 to 1963, and published a pioneering article in 1963 on the short-term effects of monetary and fiscal policy in an open economy, the citation said. ""His work on monetary dynamics and optimum currency areas has inspired generations of researchers. Mundell"s contributions remain outstanding and constitute the core of teaching in international macroeconomics,"" the academy said. Mundell, 67, stressed the importance of the success of the European common currency, the euro. Though his theories helped inspire it, Mundell did not participate directly in its planning. Mundell said he was surprised and pleased he had won. ""It"s a measure of the respect that colleagues around the world have for me and I"m very pleased with that recognition,"" he told The Associated Press in London. As far back as 1961, Mundell raised what was then a novel question: When would it be advantageous for nations to give up monetary sovereignty in favor of a common currency? ""Early on I came to have the opinion that Europe was going to move toward closer integration, and monetary union would be a good thing for Europe,"" Mundell said in London. Mundell prepared one of the first plans for a European common currency and has been an adviser to the United Nations, the International Monetary Fund, the World Bank, and governments in Latin America, Europe, the United States and Canada. Economists hailed Mundell"s research as groundbreaking. ""His work has provided a helpful guide to policy implications in the real world,"" said Roger Alford, a senior research assistant with the Financial Markets Group at the London School of Economics. His theory showed how exchange rates are affected when a government allows its fiscal policy to adapt to the whims of supply and demand generated by foreign exchange traders, or, alternatively, intervenes by manipulating its currency supply. ""It was a very important clarification,"" said Alford. Mundell"s first book, ""Man and Economics,"" was published in the United States in 1968. Since then, he has authored, co-authored and edited dozens of books, articles and papers. ""Mundell"s considerations, several decades ago, seem highly relevant today,"" the academy said. It added that Mundell"s analysis has important implications for the single European currency launched by 11 members of the European Union. Mundell"s work remains prescient in other areas, as well. In a paper delivered in 1997, he forecasted the recent rebound in the value of gold. After falling out of favor for nearly two decades, several European central banks decided earlier this month to limit their sales and lending of gold supplies, driving the value to levels not seen in years. Last year"s Nobel Prize for economics went to Amartya Sen, a scholar from India who developed a new understanding of the economic mechanisms underlying famines and poverty. The economics prize is the only Nobel not established in the will of Swedish industrialist Alfred Nobel, who invented dynamite. It was created in 1968 to mark the tercentenary of Sweden"s central bank. Mundell said he would use part of the 7.9 million kronor (dlrs 960,000) that goes along with the prize to repair a castle he owns in Italy.