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To: PaulM who wrote (53139)	5/22/2000 9:19:00 PM
From: Alex	Respond to of 116766

<<Let me illustrate this in regard to the product for which I work. Gold in western industrial societies was money. It was produced for governments, bought by them at prices they set, and held by them as inventory. At other times in history, and indeed today in other parts of the world, gold has known a much broader, diverse and indeed popular market place. The souk in Istanbul, the gold shop in Bangkok, and the marketplace goldsmith in Mali, are much more representative of the historical role of gold than are the vaults of Fort Knox. Central banks will continue to hold gold. Some will reduce their gold holdings, others will increase them. However, they are not the model customer of the gold industry. Who are our customers and how well do we serve them? Like any major industry, we have a broad spectrum of customers. This includes: The Indian peasant farmer accumulating a gold dowry; The Muslim in Indonesia acquiring gold coins to finance his Haj pilgrimage; The salaried man and woman in all industrialised societies buying gold jewellery for purpose of adornment; The individual investor seeking to diversify and strengthen his investment portfolio; and The professional fund manager seeking to do the same with other people's money. Gold is fashion and gold is money. For many, where the gold value of their fashion product is significant and realisable, gold is both fashion and money. Gold is religious icon and artwork. It is and can continue to be all of these. My recent life experiences suggest that globalisation is Swahili for jetlag. And that is bad. Operating in more than your own country, as with investing in more than your own country, demands the capacity to both measure and manage risk. Of course, all economic activity requires just this talent. We do need to remind ourselves of the fundamental truth that there is no reward without some measure of risk. The capacity of the wise investor is to be able to assess risk, that of the effective entrepreneur to manage it. The world is an uncertain place. Recent developments in Sierra Leone and Zimbabwe, have dramatically raised the risk profile of Africa. These events in two African countries have raised investor fears about all of Africa. These fears are based on a deeply flawed logic. What happens in Kosovo is not some inevitable predictor of the fate of Europe. A tourist kidnapping in Malaysia tells you nothing about the future of that region. I have just read a fascinating book by the American historian John Lukacs. The book describes the five days in May 1940, during which the British government considered whether it should give up its military struggle and seek peace terms from Germany. Hitler had just achieved the most dramatic and rapid military conquests ever in European history. Holland was occupied. The King of Belgium had abdicated. The French were on the point of collapse. A British expeditionary force of over 300000 men was trapped on the beaches of Dunkirk. The US was both unwilling and unable to help in any way. The case for negotiation was more than a prudent one. It was compelling. Not, however, for Winston Churchill. Operating almost on instinct alone, he carefully navigated the flows of defeatist sentiment until he could convince first his cabinet, then the House of Commons, then the British nation, and subsequently, freedom-loving people everywhere that even defeat was preferable to surrender. I draw two narrow analogies with our circumstance in mining. In some ways we are embattled, beleaguered, indeed on the beaches. More importantly, this is a moment where a resilient belief in our process, our product and the countries which we serve, requires us to engage our challenges with confidence. That, surely, is what future generations would expect of us. Godsell is CEO of AngloGold. This article is an edited version of a speech made at the Merrill Lynch global metals, mining and steel conference in Phoenix, Arizona. A View From the Top is an occasional column by senior corporate executives concerning topics outside their own companies. By Bobby Godsell Copyright 2000 Business Day. Distributed via Africa News Online. >> tscn.com

To: PaulM who wrote (53139)	5/23/2000 11:38:00 AM
From: IngotWeTrust	Read Replies (1) \| Respond to of 116766

Thanks, Paul. Wondered what happened to that one. It swept some "women's groups" and churchy ladies a few years back and I tried to warn them, largely to no avail when they tried to entangle me. I did get to help ONE lady, tho; My business at the time, bot her coins (10% back of spot) and provided documentable purchase receipts so that she could take a legit tax loss and get out before it collapsed on her. The latest scam I know of is called "SkyBiz2000", even has a website, but believe me, they don't talk aobut the "recruiting" on that site, nor do they talk about sale of product in their recruiting sessions, which of course are now slick and on two video tapes. YUCK! It's ripping through Oregon right now w/"free 'net access" and most of the state isn't even covered by local phone numbers...some free "access"...<duh> I collect info such as you shared, please continue to post pertinent gold/silver schemes for this thread. You help more people than you'll ever know. O/49r