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Gold/Mining/Energy : Bema(Bgo) and Arizona Star -- Ignore unavailable to you. Want to Upgrade?

To: Ken Benes who wrote (8649)	12/10/1997 8:10:00 PM
From: IngotWeTrust	Respond to of 10482

Hi, Ken, yes, the Asian situation is far more severe than any of us have been given to understand. And the wrinkle today..., the Koreans want our Gov't (read that "during this season to be jolly...") to fork over our entire multiple year IMF amount NOW, as a show of good faith. Whatever happened to the "beggars can't be choosers" maxim we chanted as kids? oleprospector@worldaccessnet.com O/49r

To: Ken Benes who wrote (8649)	12/10/1997 8:21:00 PM
From: Eric Freeman	Respond to of 10482

I do not know what chart you are looking at? BGO was up 8% today - I bought in at $2.50 $Canadian end of Nov. - now $2.93b 2.95a - prices in gold and silver are up in late trading. Some of us like BGO at these prices - I think it was a good buy at $2.50. So far up 20% in less than two weeks, and on good volume. RYO doing even better - maybe this really was the low point. I will trade out a good part of my position if it reaches my target 40% gain. IE hold remaining at 0 cost. Ken I think you are wrong and many missed these low prices and will undoubtedly jump in when the move is mostly over. Buy when everyone is selling. Contrary sentiment on gold, and gold stocks looks to me like a good long term buy signal. I think we are looking at some of the best trade opportunities in years. Eric

To: Ken Benes who wrote (8649)	12/10/1997 8:35:00 PM
From: Feline	Read Replies (2) \| Respond to of 10482

What is going to cause the Asian Banks to start to unwind their positions in US treasury securities? The demand for the US$ is the problem for gold as we see it only through this currency. From what I can see, everything so far has made the US securities more in demand not less. The citizens of the Asian countries who are subject to their currency inflation's can still choose gold but we don't see the effect of that because we aren't seeing the world through their currencies. Their banking system is a different matter. They can switch from dollars to yen to pounds to francs. If a Korean citizen had exchanged the Won a year ago into gold at US$375 he could now exchange back to Won at US$285 gold and be away ahead of the game in terms of his currency and its purchasing power in his economy. We saw gold fall. He saw it rise significantly. If the Korean Central Bank sold gold and chose to receive US$ on settlement a year ago then they also hedged against the inflation of the Won and the decline in gold plus they earned some US$ interest and strengthened their reserve base, for now. How does this scenario play out when the US$ becomes expensive in terms of other currencies and what triggers that? I'm not sure the above ground supply is the issue as it is a red herring. If you believe that it is a factor, then you have to believe that gold has been "overpriced" for the past few millenia and is now only coming to be priced as a commodity. This would be the epitome of an irrational market. Why hasn't the USA sold any gold?