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To: Michael Collings who wrote (46364)	12/29/1999 3:47:00 AM
From: d:oug	Read Replies (2) \| Respond to of 116984

Michael, in the year 2000, as penance, Ron Reece will have to read that article a zillion times until his brain is washed clean. gold-eagle.com ... in truth, a great charm to the idea. To be able to pay off the national debt, defray the expenses of government without taxation..... ... to make the fortunes of the whole community..... ... is a brilliant prospect, when once a man is capable of believing that printing a few characters on bits of paper will do it. The philosopher's stone could not be expected to do more. For almost 70 years, the United States -- contrary to its own Constitution and the most deeply held beliefs of its Founding Fathers -- has led the world down the path of unlimited fiat money..... This situation would be dangerous under any circumstances. An historic U.S. stock market bubble fueled in large part by an out-of-control domestic credit expansion makes it explosive..... Under the severest strains, a system of unlimited paper money backed by a lender of last resort behaves quite differently from a system based on gold -- the money of last resort..... ... a system based on unlimited paper will tend toward hyperinflation unless checked by very high interest rates, themselves business killers which will prolong and intensify the economic downturn.....

To: Michael Collings who wrote (46364)	12/29/1999 5:43:00 AM
From: long-gone	Read Replies (2) \| Respond to of 116984

OT December 22, 1999 -------------------------------------------------------------------------------- WASHINGTON, D.C. (December 22, 1999) ?The Silver Institute?s annual forecast of world silver mine production was released here today. The report, World Silver Production 1998-2002, presents actual production figures for 1998 with projections for silver mine output through 2002. The survey was compiled by the Silver Institute, with mining entities worldwide supplying actual production data and projections. Based on the survey of participating companies and organizations, global silver production is expected to hit 552 million ounces in 1999, an increase of only 3 percent over 1998. Mexico remains the world?s top silver producer, followed by Peru and the United States. In 1999, Mexico will produce 91 million ounces of silver and is projected to produce 106 million ounces in 2000. Peru will produce 66 million ounces in 1999, and forecasts a slightly lower production level in 2000 of 65 million ounces. The United States will produce 63 million ounces in 1999, and is expected to produce 66 million ounces in 2000. The expected growth during 1999-2002 will total 10 percent, averaging less than 14 million ounces of additional production per year. This rate of growth is less than that forecast last year of 13 percent growth for 1998-2001, 16 million ounces annually for that four-year period. Silver mine production is expected to reach 593 million ounces by 2002. Silver production continues to fall well short of total silver demand. (cont) silverinstitute.org