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

To: Bobby Yellin who wrote (7039)	2/1/1998 8:08:00 AM
From: Abner Hosmer	Read Replies (3) \| Respond to of 116762

Bobby, I'm not really sure what to make of a what's going on. I really respect someone like Abbey Cohen when she says that this is not a big deal for us. Also, Krugman, Rubin, et al seem to be saying that economic conditions, debt etc in Asia really aren't that bad, that the whole crises has really been precipitated by fear. What is it that you have been saying about perception and the markets? How about perception vs reality, which is the chicken, which is the egg? On the other hand, it seems to me that we might be experiencing "atomic erosion" in the international banking system, that this has been a long slow burn, and the chain-reaction will not now be easily stopped with a bit of extra credit and some soothing statements. The comments from the MOF in Japan about saving their 19 largest banks were illuminating. The more the truth slowly leaks out of Japan, the more critical the situation appears to be. We keep getting a little closer to reality. re the suggesstion that Central Banks sell all of their gold, it looks to me as if golds unique value as a reserve asset was not even considered, ie the reason that banks hold gold in the first place. Tom