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

To: lorne who wrote (63486)	2/7/2001 8:43:39 AM
From: long-gone	Respond to of 116756

INFLATION: FAR FROM DEAD Blanchard Economic Research Unit Monday, February 5, 2001 NEW ORLEANS, LA., February 5, 2001 (Blanchard Economic Research Unit) With two successive 50 basis point rate cuts, the Fed has officially declared the war on inflation over. We can only assume that our side won, because we certainly cannot believe statistics from our federal government. (cont) newsmax.com

To: lorne who wrote (63486)	2/7/2001 9:08:24 AM
From: russwinter	Respond to of 116756

If the margins were as great as Barclays would have us believe then the stock prices of producers would be much higher. After all, it's not just POG that matters, it is profitability. But, the invisible hand of the equity market knows better. It knows that the spread ($75) between spot price $264 and mining at average cash cost of $189 barely covers replacement cost, wear and tear (depreciation), and capital investment. And 189 is the average, what about the higher cost situations. How convenient that they just ignore that part of the curve.