Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Ron Wilkinson who wrote (3669)	11/30/1997 1:24:00 PM
From: Terry Rose	Read Replies (1) \| Respond to of 116815

The main players, including the Japanese's money guru know the seriousness of this mess. They are feeding the media this latest farce to buy time, and avoid panic by their citizens. Meanwhile, they will be liquidating their U.S. stocks and bonds in which they have financial gain to stabilize the situation, if possible. To put things into perspective, the estimated cost to bailout Yamaichi Securities exceeds the estimated cost of the bailout of the entire country of South Korea. These events are unprecedented! The heads of central banks are navigating in unchartered waters during a typhoon. In essence as stated in another post, they truly are "winging it". Their worst nightmare has arrived. They cannot create money fast enough to put out all the fires. As one currency after another goes up in smoke, their power weakens, only those countries with substantial gold reserves will retain their power after their currencies collapse. The purchase of gold by central banks is very secretive, mostly it is rumour. The current rumour with some confirmation is the Central Bank of China is agressively building up it's gold reserves. You can bet the house that Japan is doing the same. As far as the individual out there, it sounds like a good idea to follow their lead. Buying leveraged gold assets at these prices with all the turmoil out there is a "slam dunk" opportunity.