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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: Canuck Dave who wrote (4427)	1/12/2002 2:40:30 AM
From: paul ross	Read Replies (1) \| Respond to of 8010

I think that we will wake one morning to an announcement that there will be no more silver leasing (WSJ page 4). I think there are behind the scenes goings on where the FED or some such US agency is talking all the lessors into taking cash to repay the leases. They'll say look the US Treasury doesn't have any silver why do the govts of Argentina or the Phillipines need any. At that time lease rates will be at 0 (no more leasing) and silver will start its climb. Unless as you suggest, CD, they can scare up some more silver to lease to keep the game going for a while, but at this point the lessor's got to know he's not gonna get his silver back. Carry trade's not what it used to be with Greenspan lowering rates to save a US crash so its time for them to abandon this game and move on to the next. The game will have accomplished what they set out to do, make a lot of money in the carry trade for the JPM's of the world and strip the world govts. of anything of lasting value. The gold game will end the same way. None of the CB's will get their gold back, and no one will care. US$ is a much better reserve asset.