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Gold/Mining/Energy : GOLD: WHAT IF IT IS NOW JUST A COMMODITY? -- Ignore unavailable to you. Want to Upgrade?

To: MUDMAN who wrote (5)	11/8/1997 8:05:00 AM
From: Bobby Yellin	Read Replies (1) \| Respond to of 22

food has definitely gone up in my area... if you work in the bond market..is it true that players are forced to follow the trends rather than fundamentals..or lose their jobs? is there anyway of telling if the governments are buying? I stopped getting Barrons because I felt there was too much disinformation..but I guess paying attention to the buy/sell of foreigners in the bond market is a priority...also wonder if the Japanese banks are going to be forced to liquidate a lot of their bond holdings..with the fiasco of SE currencies and all the defaults that should follow since the debts of so many of their corporations will be higher than the sky.. just seems like one huge house of cards...no moderation in sight..

To: MUDMAN who wrote (5)	11/9/1997 6:35:00 AM
From: Gunnar	Read Replies (1) \| Respond to of 22

The need of a last resort. A bank demands for a last resort when you asks them for a loan. If the business idea is extremely good the may take a bigger risk, on average not. Some small countries may sell out some of their gold deposits. But if that would lead others to follow them, then the average willingness to take risks, without having a last resort, will decrease. The longer time pass from the last currency crises may led somebody to ....As long as capitalism seems to develop anarchisticly: up here - down there, and when that seems to be the core of change, people ,and central banks will speculate in the value of the need of and, therefor, value of the common equivalent used in trade. Risk will always have a price. Our coins does just have a symbolic value. The value of the coins changed when the strong state guaranteed the value of the money. But the state was never replaced by a last resort. Will Internet change the terms for trade so that the need of a state based last resort becomes privatized? Regards Marten