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: Bobby Yellin who wrote (6238)	1/18/1998 8:56:00 PM
From: Abner Hosmer	Read Replies (1) \| Respond to of 116791

Bobby - I've grown so skeptical of "information" and agendas. Witness this latest thing with Armstrong. I don't listen to anyone anymore, just trying to search for objective data and make up my own mind. Seems the IMF was set up to help developing economies gain access to capital, looks like its just become an insurance fund/tool for International Banks who know that G7 taxpayers will pick up the tab for risky loans. Steve Forbes has some pertinent comments to make this week re gold, interest rates, and the IMF: "Instead of stemming this panic, the IMF fanned it....The IMF and the Clinton Treasury Department are wed to destructive nostrums...What action should Greenspan take? He should ease U.S. monetary policy. Dollar deflation is the last thing the world needs right now. When someone is gagging, as many countries are, you don't grab his throat and squeeze." forbes.com

To: Bobby Yellin who wrote (6238)	1/19/1998 12:14:00 AM
From: Abner Hosmer	Respond to of 116791

Bobby - I'm interested in following this, mostly because oil is a proxy for the price of everything. Agriculture is particularly petroleum-intensive. My personal view is that the risk of price shock is less associated with supply than with the value of the currencies in which oil will be purchased, including the dollar. More on OPEC: biz.yahoo.com LONDON, Jan 15 (Reuters) - OPEC oil producers on Thursday were in a flap about how to counter a slump in world crude prices which threatens to inflict serious damage on their oil-dependent economies. ...OPEC in December agreed to raise its official output ceiling by 10 percent to 27.5 million barrels a day (bpd)...And OPEC delegates said the suggestion that the group revoke its December decision and cut quotas back again was a non-starter. ...''If there are those in OPEC who think the big Gulf producers can be pushed up against a wall and told to cut back again they've got another think coming,'' said one non-Saudi Gulf delegate. ...OPEC kingpin Saudi Arabia made clear at the time it wanted its share of a growing world oil market and was tired of shouldering the burden of output restraint while others in OPEC ignored official supply limits. ...Traders said Saudi Arabia lifted volumes in December and has priced its crude very competitively for February, particularly into the United States where it has lost market share to OPEC rival Venezuela. ...Endemic quota-cheating meant OPEC output was already above the new 27.5 million bpd ceiling when the pact was signed and, with UN-monitored Iraqi exports rising again, overall output is expected to quickly reach 28.5 million. Most OPEC members are now in competition to attract foreign oil company investment and all plan output rises this year as privately-financed oilfields come on stream. Venezuela said on Wednesday it was planning to pump 3.6 million bpd this year, hugely in excess of its official 2.58 million quota.