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To: Eric who wrote (49397)	2/26/2001 7:00:09 PM
From: bambs	Respond to of 77398

suit yourself

To: Eric who wrote (49397)	2/26/2001 7:14:26 PM
From: Fun-da-Mental#1	Read Replies (1) \| Respond to of 77398

Eric, World gold consumption exceeds production. The difference is made up by central bank selling and leasing. Leasing by the US Fed is especially significant because with the gold price dropping everybody wants to take gold loans, but if the price starts to turn around, then borrowers will return gold to the bank. I used to do gold prospecting for a living (actually airborne geophysics, but that's how they do it nowadays), and I can tell you exploration has nearly come to a halt in the past couple years. World gold production increased up to 1999, but in 2000 it held steady, and now it is likely falling. You're right, technology exists to find a lot more gold, but it takes time, and lately nobody's interested. Now with a financial crisis in progress (falling stocks, rising loan defaults, etc) we are set up for a real gold rally. Fun-da-Mental [EDIT: originally in 1st paragraph I said lenders when I meant borrowers - now corrected]

To: Eric who wrote (49397)	2/26/2001 7:29:30 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 77398

Eric, where do you get your bearish information about gold? Everything I've read suggests to me that gold is near a bottom. Of course, it may not be a very interesting investment, but that doesn't mean it's not a good one. However, I am not a gold bug per se so I would be interested in hearing your bearish argument.