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To: Rarebird who wrote (53936)	6/8/2000 2:11:00 PM
From: pater tenebrarum	Respond to of 116801

yep, very interesting...i agree btw. that what the CB's are doing amounts to mismanagement. Denmark, Australia and Kuwait (i don't know for sure if there are others) all have lent out 100% of their remaining reserves. all they have now is a piece of paper...and interest of 1,5% LOL!

To: Rarebird who wrote (53936)	6/8/2000 2:16:00 PM
From: Ken Benes	Read Replies (2) \| Respond to of 116801

The article offers an astounding extrapolation of facts including the total number of ounces remaining in the world and secondly what the population of the planet will be in the future. The accuracy of those numbers is dependent on an enormous amount of facts and events that may or may not occur rendering those projections as little more than one individuals speculative prognostications. Finally, how many people will be waiting by their computer for those events to unfold for twenty or more years, not withstand, many of this treads members. Ken

To: Rarebird who wrote (53936)	6/8/2000 5:24:00 PM
From: goldsheet	Respond to of 116801

RE: gold-eagle.com Someone point out that article to me, and here's what I wrote elsewhere: Some of the numbers are way off. USGS mine production numbers of 2460 in 1998 and 2330 in 1999 are used. USGS numbers are often slow to be udated/revised and the 1999 number is an estimate. GFMS numbers, which I believe, are 2555mt for 1998 and 2569mt for 1999. WGC demand numbers, an average of 1938 for five years, are for selected countries only. Total world demand is more like 4123mt for 1998 and 4065 for 1999. The actual production/demand gap is more like 1500mt vs. 600mt. The statement "this defecit has been covered from central bank holdings" is incorrect. CB sales are only one component, with the largest gap filling being done by recyling scrap, which runs 650mt (almost twice CB sales) The problem with any precious metal is folks who keep looking for it tend to find it. More than 50% of all gold mined in human history has been mined in the last 40 years. I'm sure the gold mining industry will still be around 50 years from now. Dividing todays' reserves by today's production is way too simplistic (static) in such a dynamic world.

To: Rarebird who wrote (53936)	6/8/2000 9:54:00 PM
From: d:oug	Read Replies (1) \| Respond to of 116801

Rarebird, I read the article and the 3 replies that you received, and I am troubled in that my response is apples and oranges to the others. That in itself is no problem for I, for I understand these others have what it takes to place learn'ed replies onto this thread, and I do a song & dance type babble in the hope that I may by chance like a momkey dancing on this ketboard for about a zillion years actually create knowledge. So I have no trouble putting out babble, but here for this reply I seem to have this thought that I have something to say, and its unlike all others. This is where I worry about myself. Am I having an RRM ? (Ron Reece Moment) If so I know it will pass, and any damage done will be ignored by all, including myself. This RRM is not a personal attack by me towards Ron, but just an observation that there is always one in a large group of persons that presents a view that differs completely from all others. Not to be done unless one wants to push one's limits, but enter a room of persons all who have extreme cases of not being able to enter the reality of normal. Best to do only with those of docile manners and not those of the criminally insane as its dangeous. But my point is that I respect Ron's ability to stand his ground and continue to always defend his views, which is different from say d's automatic reply to any and all Barrick bashing posts. D defends his position about Barrick, and Ron defends his position about himself. ok, follows is just 3 lines from that article and I first ignore the time frame of 20 years as whether its 20 or 10 or 50 or 100 I do not care because the objects we humans have will change, like cars to floating transports, the human nature of folks remain as it has been for the last 5,000 years, plus or minus 6,000 years. From: Rarebird, Very Interesting Read: gold-eagle.com ... gold supply available on planet earth is finite. ... to likely last only for another 20 years or less. The world is going to run out of new gold.... ok, so lets do a short time frame of 3 years so that we all can relate it to ourselfs rather than put in onto a future generation. All gold mined from earth in 3 years. No more, all gone and exist only as jewerly and bars and on commercially used objects. ok, so now I actually see this as a positive, and unlike Ron's concern about a supply not being available for economic growth, I see this as a stablizing effect. Price of gold would become $65,000.00 per ounce. No more gold used for commercial use or jewelry. Substitudes for all but government security and nation defense used will be done, and not because it will be illegal but simply because of high cost. Private citizens will be allowed gold ownership, but as today it in ounces, then it will be in micro grames. And as economies grow, then so does the price of gold to represent growth in the amount of value on the earth. Each nation's Central Bank will store gold bars to reflect the stability of their fiat currency, and those nations that choose not to and print any amount of paper money by whim will have their currency inflated by world currency exchange rates and may have their currency unusable to buy goods and services from other nations. So I see no problem and maybe a good thing for the gold supply to reach its limit for availability. DougaRRM