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

To: long-gone who wrote (45419)	11/30/1999 8:06:00 AM
From: John Hunt	Read Replies (3) \| Respond to of 116768

Huge Backlog for Security Checks Tied to Pentagon Computer Woes (Y2K) << The Pentagon has a backlog of more than 600,000 employees awaiting investigations for security clearances in part because a $100 million effort to computerize the process has been a massive failure, government officials and members of Congress said yesterday. The new computer system installed by the Defense Security Service, which conducts the background checks, has "not operated as intended, is not year 2000 compliant and may cost about an additional $100 million to stabilize," according to a report this month by the General Accounting Office, an investigative arm of Congress. New background investigations, which are supposed to take 90 days, on average are taking 204 days, the GAO said. Based on a representative sample, it appears that less than 1 percent of the investigations are completed within the 90-day time frame, and almost 10 percent take more than a year, the report said. >> ... more at ... washingtonpost.com ***** Morning Richard Y2K 'Debacle du jour'. :-)) John

To: long-gone who wrote (45419)	11/30/1999 9:33:00 AM
From: Ken Benes	Read Replies (3) \| Respond to of 116768

Richard: I think there is a fair chance that gold will continue down prior to y2k and should y2k turn out to be a minor event, then I believe you will see gold approach its old lows in the 250.00. There is just more supply out there than meets the eye, and investment demand has not really improved, not a good scenario for any commodity. Your point about Anglo purchasing some gold is well taken, however, the producers could have purchased then entire 400 tonnes many times over to cover their short positions. The fact that they did not, indicates they do not believe gold will go much higher, and secondly they have no interest in in higher gold prices. Finally, investors interest in gold shares is limited to the few hardcore gold bugs left. Management of those companies have completely dimminished the desireability of owning the shares.