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

To: d:oug who wrote (70572)	5/29/2001 5:12:20 AM
From: Alex	Read Replies (1) \| Respond to of 116753

WALL STREET banks are facing an avalanche of expensive litigation, with as many as 100 class-action lawsuits, demanding tens of billions of dollars in damages. The banks are being accused by investors of allegedly rigging the flotations of Internet companies during the dot-com boom of the late 1990s. An investigation by The Times has found that 21 separate lawsuits have already been filed against ten different banks in Manhattan federal courts. thetimes.co.uk

To: d:oug who wrote (70572)	5/29/2001 2:22:16 PM
From: yard_man	Read Replies (1) \| Respond to of 116753

If you read the fellow's (Zs) posts for an extended period of time you would realize he doesn't have a clue. His argument that a gold standard would yield perpetual inflation is one glaring example of his "reasoning abilities." He might be fair as a stock trader for all I know, but there are many fundamental macro-economic ideas he simply doesn't understand. All of us know that the CBs have a very large supply that they "could" sell into the market -- so what? We also know that it is currently in the Fed's best interest to perpetuate a myth of "low or no" inflation. We also know that the dollar has become the world's reserve currency. Zeev's arguments and the arguments of others simply extrapolate the present set of conditions in perpetuity with no (yes, none) original thought on the matter. Is what the CBs and bullion banks do illegal -- I don't know, I don't care. It is enough to know that they are doing it and that they will continue to hold reserves -- the idea that gold isn't money is pure crap. Of course it is money. Even AG knows that there is a limit to how popular the USD can become as a reserve asset and that one day "something" will matter ... In a sense nothing has changed -- Fed keeps on printing, people keep on spending, capital continues to come to the US. But in another sense many things have changed that bear looking at: printing is starting to have an effect on long rates. Gold lease rates have based at a higher level. There is guarded interest in the shares by individuals and apparently funds and banks. Official inflation numbers have even turned up in both the US and Europe. Hi tech has had an initial crash. Energy costs have also "based" at a higher level ... On an historical basis gold is relatively cheap and has broken a very long downtrend. There is also a lovely torrent of voices cautioning against goldbug "foolishness" and trumpeting the idea that inflation is dead ... I understand someone not wanting to take a position, but to say gold is a sell, I think is dumb.