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Gold/Mining/Energy : A to Z Junior Mining Research Site -- Ignore unavailable to you. Want to Upgrade?

To: pogbull who wrote (4517)	5/23/2003 10:12:42 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 5423

NEM to JPM: take this mine and shove it (gotta love it) nasty hardball so JPMorgan will enter the gold mining business the key part mentioned is that the level of forward sales exceeded the contents of the mine itself and JPM allowed that level of hedging in court, JPM would have some embarrassing exposure on that practice so UCKEM / jim

To: pogbull who wrote (4517)	5/23/2003 10:14:15 AM
From: Jim Willie CB	Respond to of 5423

great final line by Daily Reckoning on Japan buying USTBonds Can bond prices continue to rise? We note that long bond yields of 2.5% were common in the '50s. And while nominal yields are at record lows, real yields still have room to fall. As deflationary forces knock down prices, the difference between the nominal yield and the real yield widens. Even at a zero percent nominal yield, if inflation were running at minus 3%, bond holders would still realize a positive return of 3%. Tax-free. Richard Bernstein of Merrill Lynch points out that, historically, people have kept about as much of their investment money in bonds as in stocks. Now, they are overweighted towards stocks, with two thirds of their money in them. By this measure, too, bonds have room to go up. So who knows? The Japanese are buying. Usually, whether it is golf courses, great paintings, landmark real estate or stocks, they buy at the top...but even the Japanese are not reliably moronic. We'll have to wait and see... / jim