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

To: Gord Bolton who wrote (83995)	3/30/2002 11:11:22 AM
From: posthumousone	Read Replies (1) \| Respond to of 116972

Whats the difference between a TIME deposit and ordianry account? <<<<With the start of the new fiscal year on Monday, the government is withdrawing its unlimited guarantee for time deposits, leaving the banks to find and pay for private deposit insurance for accounts over $75,000 or do without. Deposits over $75,000 in ordinary accounts lose the government's unlimited guarantee a year later, on April 1, 2003." >>

To: Gord Bolton who wrote (83995)	3/30/2002 1:45:19 PM
From: bill	Read Replies (2) \| Respond to of 116972

Knowing a little about Russia, I'm not surprised at their buying up gold. The question over the last few years is who has been buying. The selling has been very public. The buying has been a big secret. Strange system. It could have been simply US, England, Switzerland, etc. selling back and forth to each other to keep the price down to protect the monetary system with its huge forward and short sellers. OR/AND it could also be countries not particularly friendly toward the US buying up gold. I was around when the Hunt brothers tried to corner the silver market. Madness ensued. I was at silver auctions. People were crazy. The Hunts failed but then they didn't have the resources of a govt. behind them. If Russia and China have been buying and then one, or both, decide to take physical delivery (this is, after all, a hardball game), they could drive the price of gold and silver through the roof. The old 800 ceiling could be met or broken. The financial companies in the US, England, etc. would fail unless rescued by their govts. The cost of such a rescue would be enormous. The failure, though, would carry a greater cost. The scary thing is that while the Western govts. have been unloading gold, they've continued with a system that depends on gold credits. To protect themselves, they needed to stop allowing gold loans. That, of course, would cause other problems. What I see is a hybrid system with great risks. So far the Western govts. have had it all their way but they may be on the edge of losing control. My solution? I've been buying gold stocks the last few days. Not overwhelmingly but as insurance. Gold, after all, has only become cheap in terms of US dollars. And, can this many Japanese be wrong?