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

To: Terry Rose who wrote (4960)	12/30/1997 10:47:00 PM
From: JD	Respond to of 116759

Try the Russian Recipe. Saw a short clip on the tube regarding Russia. They had a gala unveiling today of their new ruble. Seems they got tired of the old ruble being worth so little U.S. (approx 6000:1) so they've redesigned the ruble with a new look which includes among other enhancements the removal the last three 0's on each denomination. Gee, think anybody'll notice? :-) So take heart. If POG does fall just take any coins/bullion you have laying around and run 'em through the band saw and voila you'll have twice as much. JD PS. Anyone know how to get overseas spot prices on gold until kitco back up ?

To: Terry Rose who wrote (4960)	12/31/1997 3:18:00 AM
From: PaulM	Respond to of 116759

The answer is that it cannot prevent longer term devaluation unless everyone else also plays the inflation game.

To: Terry Rose who wrote (4960)	12/31/1997 3:39:00 AM
From: PaulM	Respond to of 116759

Terry, here are some current Bloomberg headlines, (I've posted the link a number of times): "Korea Inflation Hits 6.6%, 6 Year High" (and much more of that to come might I add ) "S&P Downgrades Indonesia Debt to Junk Status" (I'm sure the powers are hating the rating agencies these days. I read an economist' s statement the other day to the effect these rating agencies should keep quite for a while.) "Won Falls another 6% as Korean Firms Try to Pay Foreign Debt" (I have a feeling the FED will ultimately have to monetize U.S. Banks exposure to SK. The natural way for SK to handle its domestic debt is to print Won, which devalues its currency and makes it less possible to handle its foreign debt. This is what makes an Asian Tiger with foreign debt and a trade defecit such a sticky one to tackle). "Indian Rupiah Falls 5.4% as Firms Buy Dollard to Repay Debt" (and so on, and so on, and .....)