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To: Zardoz who wrote (43754)	10/25/1999 7:46:00 AM
From: Richnorth	Respond to of 116764

Hutch, You have a selective short memory! Of course, U did not claim to be an expert on China. But U certainly did predict that China would devalue her Yuan on 11th August 1999 which, by the way, was the day of the Great Solar Eclipse that got so many so very worried and scared! By the way, it was I who pointed out that China had all along been devaluing her Yuan, "in effect". By the way, I never mentioned the ECB was involved in a cabal to drive the POG down. All I said was that there was a concerted effort to drive the POG down. Don't take the ECB announcement at face value. Don't be naive! Don't forget that there usually is more than what meets the eye and ear. Of course, there is no gold-genie. That's just a metaphor! BTW, have U ever read or heard of "Aladin and his Wonder Lamp" when U were a kid? Ah, I also see the possibility that U are merely being "contrarian" just for the heck of it. To be sure, there is so much fun and attention to be had whenever one goes against the crowd, eh? Especially when there's perhaps a 50/50 chance U may be right, eh? PS. My latest info is that the 79 tons from Kuwait and the 220 tons from Russia won't make a significant diff to the present gold "crisis". Don't forget that both Russia and Kuwait have obligations towards Uncle Sam. I heard Kuwait had a "payoff" for the "loan" of 79 tons? Laughable, eh?

To: Zardoz who wrote (43754)	10/25/1999 7:47:00 AM
From: Lucretius	Read Replies (2) \| Respond to of 116764

LOL! you claim to be an expert on everything... that's the point.... you know nothing yet claim to know all.... ROFLMAO! that's why i mess w/ you so much, kiddo.. join the rest of us in the real world that don't know what is going to happen but tray and buy historically undervalued assets and sell overvalued ones.

To: Zardoz who wrote (43754)	10/25/1999 12:52:00 PM
From: m.philli	Respond to of 116764

Morning Hutch, I got a question, your usually good for an answer, even though it's not the one I want to hear. Here goes, Say I want to apportion 5-10% assets in precious metals sector (physical gold, stocks etc.) Say I got $10,000 to apply to that sector. With this in mind, can I go on-line, (if not why not), to a precious metals stock exchange, open an account by placing my currency in the account. The currency is immediately converted to gold, portioned and quoted in grams at the prevailing spot gold price. (the physical gold actually backing this (paper) accounting grams, stored by the exchange,(listing company expense). Now I have (at the price quoted) the equivalent grams of gold in my trading account. I also know there is a physical amount of gold belonging to me in the exchange vault. this gold cannot be lent etc. the only demand on it is my account. If I want to close my account or withdraw funds, the amount withdrawn can be in any currency desired at the prevailing gold/currency exchange rate. The precious metal stocks listed to trade on this exchange, are actually saying "gold is a currency, not only a commodity, and they will trade in gold currency. The listing fees for permission to trade on this exchange are paid in precious metals, providing a "kitty for trading fluctuations. As new money comes into this market, gold is purchased on the spot market for backing gold accounts. As money flows out of the accounts, gold would be sold to the spot market, to balance . A lot of the account paper gold and the physical gold backing these accounts would never leave. This would result in physical gold being removed from supply side. Trading would be quoted in grams, with electronic abilities of listing equivalent price on the quote in any currency desired. (removing any confusion) This electronic exchange could operate 24 hours a day worldwide, with precious metal stocks being traded here from all countries. It could be overseed by some international regulation organization, world gold council or other. If a precious metal exchange caught on, some companys may choose to cancel their listing on other exchanges, vse,ase, australian etc. WHAT DO YOU THINK Hutch, isn't this a good idea, if not why not, where is the flaw. How much gold could possibly be removed from supply and held as backing for a market like this, if it caught on. thanks-mike