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.

Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (1172)	1/19/1998 12:47:00 PM
From: Zeev Hed	Read Replies (3) \| Respond to of 9980

Jim, are they donating this gold or simply exchanging it for won so as to improve the hard currency (or gold) position in Korea? I thought it was the latter, but I am not sure (in any event there must be an element of danation since they would not get fair market for the fine artifacts being melted down). Zeev

To: James F. Hopkins who wrote (1172)	1/19/1998 4:04:00 PM
From: tekgk	Read Replies (2) \| Respond to of 9980

James, The Korea gold thing does smell bad. Somewhere on SI someone posted the amount collected and the amount left after the meltdown that was supposedly shipped. Surprise, surprise - lots of it vanished into the melting process. I wish I could find the post, but I read lots of stuff and can't remember which thread. Yes, the whole meltdown idea was stupid and appears to be part of a very big rip-off.

To: James F. Hopkins who wrote (1172)	1/19/1998 4:45:00 PM
From: John Hunt	Read Replies (2) \| Respond to of 9980

S.Korea gold campaign mum on details biz.yahoo.com Jim, Here is a Reuter's article from Jan 13th on the Korean Gold sales. John

To: James F. Hopkins who wrote (1172)	1/19/1998 7:18:00 PM
From: Thomas Haegin	Read Replies (3) \| Respond to of 9980

My take of the collective Gold collection is more about culture: What amazes me completely is that people join and collect gold, believing they can bail out the country! I mean would anybody of us go and donate moms and wife's jewels to bail out the U.S., trim the deficit? Or we Swiss do this for Switzerland because of the Holocaust monies? Let's face it: Before that, the Earth would need to stop spinning and the Sun must rise in the West! When Mobius was in Zurich he spoke of another amazing thing: People demonstrating in the streets of Seoul with the theme: We wanna work! Look at France: A miracle that they even hit the street, for the tune always is: We wanna stay home! (same for Germany). So IMO it is a question of culture much more than economics: I mean the kilos of gold collected will be minuscule anyway in comparison to world supply and the debts Korea faces, I would think. On the other hand this work ethics and "serving for a higher purpose theme" is the type of things that will let the SEA countries come back eventually in a big way, IMO. Thread and special envoys to the region, correct me if I see it too rosy. Thomas