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

To: IngotWeTrust who wrote (81904)	2/12/2002 7:04:20 AM
From: long-gone	Read Replies (1) \| Respond to of 116756

U.S. Shutters Internet Bank Mon Feb 11, 1:32 PM ET Jay Lyman, www.NewsFactor.com In what is being called the first government shutdown of an Internet-only bank, the Office of the Comptroller of the Currency (OCC) closed down Phoenix, Arizona-based NextBank, which offered jumbo certificates of deposit (CDs) over the Web. The OCC said it acted after discovering that NextBank, which was purchased by San Francisco, California-based California-based NextCard in September 1999, "was operating in an unsafe and unsound manner and had experienced a substantial dissipation of assets and earnings through unsafe and unsound practices." (cont) story.news.yahoo.com

To: IngotWeTrust who wrote (81904)	2/12/2002 3:30:51 PM
From: goldsheet	Respond to of 116756

> IF this is what passes for PruBache analysis nowadays Yes, I read one paragraph and it almost looked like it was copied from one of my comments here of GPM "The drop (in jewelry demand) in 2001 caused global fabrication demand to be only 5% more than mine output plus scrap, and it was 296 tonnes too little to absorb 468 tonnes of central bank sales" "We do not expect fabrication demand to be larger than mine output plus scrap plus central bank sales until 2005 or 2006. Thus a positive inflow of private investment demand is necessary to absorb central banks sales in view of the stagnant nature of the gold jewelry market" I've been screaming the so-called "gap" has been shrinking for the last 5 years, and we now need investment demand AND hedge covering just to maintain equilibrium ! The Prudential report does, however, has some good GFMS mine production forecasts which are closer to my beliefs. I've seen the Meridian graph, that Toqueville/Hathaway also used, showing gold production dropping from 2600mt now to about 1800mt in 2010. GFMS shows a modest deline to 2392mt by 2010. All that exploration expenditure did not just disappear, there's plenty of gold available at just slightly higher prices.