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Gold/Mining/Energy : GOLD-XAU -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (913)	12/27/1997 2:09:00 AM
From: Bear	Read Replies (1) \| Respond to of 1756

I have enjoyed reading your messages, as you seem quite intelligent and well-informed. But you goofed big-time on the value of gold holdings of the countries you mentioned. The total amount of gold in the world is about 4 1/2 billion ounces, worth about 1.3 trillion dollars now. Do a little math on the values you gave in your message, and you'll see they are many times the actual values. Bear

To: philv who wrote (913)	12/27/1997 12:38:00 PM
From: Keith F. Wunderlich	Respond to of 1756

Phil Thanks for the response. My post you responded to came out without thought to its ramifications. In hindsight, either way I do not like the outcome. I thank you for your time you have spent to help me gain some understanding of this puzzle. I admire you for your fortitude, and character. It shows! You are appreciated. Keith (PS. I have just glimpsed the bear, and it is huge....if you have any questions of me, I will answer, once I have sorted out my wrong assumptions to date)

To: philv who wrote (913)	12/28/1997 12:32:00 AM
From: paul ross	Respond to of 1756

Phil- Discussion between Ron Insana and Jim Cramer on CNBC Wed., Dec. 24 talking about Asian crises and deflationary cycle: RI- Is it possible the FED is doing something to break this spiral, not just by not raising interest rates, but the money supply in the US has been growing at something like a 10% compounded annual rate, that is way above the FED's target. Do you think maybe that the FED is providing liquidity to the world right now just by running the spigot a little bit heavier than normal? JC- I think there are 2 spigots that are on right now. Saudi Arabia is providing oil to the world which we need over there because ... all theseÿcountries would be in shock with another oil spike up and I think the FED and the Treasury Dept. are run by shrewed market professionals who, on their watch, don't want to be responsible for an E. Asian collapse. Now, they're not being aided by the politicians in Japan, they're not being aided by the corporations in So. Korea, but they're doing their darndest, and I've got to tell you I'm very impressed. This is not one of those situations where the US govt. is going to be at fault if things go wrong there... There's only so much money at the World Bank and at the IMF. It will not be our leaders, our politicians that screwed this one up. RI- Let me ask you about what you said in respect to Saudi Arabia, because that is a compelling point to make, something that might be lost on people... A reduction in oil prices is tantamount to a tax cut for the big oil consuming nations. Did someone cut a deal with Saudi Arabia to keep a lid on things so they don't end up creating a recession by letting oil prices spike? JC- You know this is hard, because you start talking into the realm of conspiracy theories, which periodically they sound right, and periodically you find me on the grassy knoll in Dallas... with Oliver Stone... I would tell you I think there's something afoot which tells me that there is more of a world wide coordination to try to avoid a collapse. It would not surprise me, the Saudi's owe us. PR