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To: John Hunt who wrote (12665)	1/2/1998 9:38:00 PM
From: Investor2	Respond to of 18056

Thanks for the response. I agree with your point. RE: "PS - I probably have only 2 or 3% of our assets in gold stocks and gold mutual funds." Unfortunately, I put about 5% of my portfolio into the metal in 1986. I've lost more than 50% of my investment, not including the additional loss to inflation (~35%?) and the opportunity loss (could have had a 500% gain in an index fund over the same period??). Now you can see why I'm suspicious about people selling the idea of gold as an "inflation hedge" or "insurance." Oh well, live and learn. Best wishes, I2

To: John Hunt who wrote (12665)	1/5/1998 6:13:00 AM
From: John Hunt	Respond to of 18056

The Balanced Budget Dividend home.att.net Latest Healy letter. John

To: John Hunt who wrote (12665)	1/5/1998 6:22:00 AM
From: John Hunt	Read Replies (1) \| Respond to of 18056

Colin's Site - Interesting News on a Gold Delivery Default users.dircon.co.uk << Reuters News (Thursday January 1, 1:40 pm Eastern Time): "Consolidated Nevada Goldfields Corp ... has not made the scheduled principal payment of 2,611 troy ounces of gold due on December 31, 1997 to ING Capital Corp ... " A one-off, or an ominous sign of things to come? The latter, according to vronsky: Posted on the internet Sunday January 04 1998 12:50 (GMT) by Vronsky of Gold-Eagle: FIRST OF MANY GOLD LOAN DEFAULTS???!!! THIS IS MONUMENTAL NEWS! It is testament to the well-grounded suspicions of many experts that there will be many GOLD LOAN DEFAULTS, forcing Central Banks and large commercial banks to EAT the Gold Loans extended. >> Not quite the end of the world, as the value of this particular gold default is small. However, as the writer says, there could be more. John