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

To: Ron Schier who wrote (3437)	11/23/1997 8:21:00 AM
From: lorne	Read Replies (3) \| Respond to of 116822

Hi Ron Already forestry and minning companies are beginning to cut back production , our second biggest costumer of forest products is Asia,the first being the USA, one of our biggest minning companies INCO has announced cutbacks and mine closings, exports are being killed now with our dollar at .70 to .73. Seems to me that the USA being the worlds biggest economy is like a big sponge it can absorb a lot of punishment ( Asia ) Canada is a small sponge can't take to much. Question--- would raising interest rates support our dollar and have a negative effect on stock market if so maybe this is why interest rates are not raising at this time. I sure hope the Canadian $ weakness is short term but if this weakness is due to currency crisis in Asia it could be long term ??