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

To: goldsheet who wrote (65392)	3/11/2001 8:25:19 PM
From: long-gone	Read Replies (1) \| Respond to of 116815

World Bank, IMF Still in Need of Reforms MoneyNews.com Wires March 9, 2001 WASHINGTON -- Looking back on World Bank and International Monetary Fund reforms over the last year reveals a record of change, but at a glacial pace, according to economist Allan Meltzer who chaired a high high-level commission that reported a year ago on needed reforms. Congress formed the Meltzer Commission to help create a blueprint for reforming the two international financial institutions, whose track record predicting world financial crises and making useful loans has been less then stellar, according to a host of various critics. (cont) newsmax.com

To: goldsheet who wrote (65392)	3/11/2001 11:14:58 PM
From: russwinter	Read Replies (2) \| Respond to of 116815

<not a linear 1:1 relationship> Maybe not linear, but when you start hitting these 250, 260, 270 numbers, it starts getting close. A drop from 275 to 250 will have a greater effect on reserves, than 325 to 300. <Replacement of production?> Again you had some pipeline left from the 1996-97 exploration pre-Bre-X glory days. It's now gone. <remind me of this on March 11, 2006> If gold stays below 300 through March, 2006, most of this industry will shutting or winding down. Even the MDG's and GLG's can't afford to just to cruise along on current projects. I would fully expect a huge chunk of production to have gone to mine heaven will before 06. In fact I think that may be behind the credit rerating possibly underway from the CB's. They have to be worried about the whole hedging scheme and the poor health of the industry. They may be wondering if the gold to repay their loans ever gets produced. I understand your counterpoint to the "depletionist" view common during the late 70's and early 80's. I don't subscribe to that notion either. However, it takes capital and investment and the right price level to cure depletion. And from where we stand today, that cure is no where in sight. If capital came rushing back into the sector, then I would IN TIME expect a cure. But, that won't happen until we get higher prices. Resources won't materialize out of thin air, nor will gold given the current round of puny exploration budgets.