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To: J. Nelson who wrote (7581)	2/14/1998 10:23:00 PM
From: Thomas F. O'Connor	Read Replies (5) \| Respond to of 116989

A momentous decision is being made in Jakarta, Indonesia this week-end. that wll profoundly effect the economies of Southeast Asia and eventually the entire world.. The objective: currency stability. The opposing ideas to attain this goal are between a currency board as advocated by Steve Hanke and the economic plan as outlined by the IMF. The Hanke plan is described in an article to follow and the IMF plan is a plan in general of raising taxes and further currency devaluation. Both will cause much pain and suffering. However, I believe that the currency board will stabilize the currency, if not aborted by the politicians, and the IMF plan will fail, no matter what happens. Very little has been written in the print press about Steve Hanke and his advocacy of a currency board for Indonesia. However, here is an article that appeared in Thursday's Washington Post which relates some information about him: washingtonpost.com This article appeared in today's Washington Post and gives some indication of the magnitude of the currency implications depending on which policy is adopted.: washingtonpost.com Mr Hanke has shown great courage as an economist in taking such a strong stand in direct opposition to the policy of the IMF and his own Government. An understanding of the currency board concept can be gleaned from this article by Mr. Hanke in December 1995. It also discusses the different results obtained with a currencey board utilized in Argentina since 1991 and the results with a lack of one in Mexico in 1994. heritage.org If the currency board concept spreads throughout Southeast Asia (Thailand is considering one) , it will ultimately have a significant effect on the Dollar and its relationship to Gold. But more on that later........

To: J. Nelson who wrote (7581)	2/16/1998 2:40:00 PM
From: long-gone	Read Replies (1) \| Respond to of 116989

J. Nelson, i understood that in some cases that number (for reopening mines) is in the $6.25/oz range. I suspect some are reopening them as we write,but have nothing to prove it. i've been wondering, with the long range hedged positions all producing mines have taken, if some of the most speculative miners may now be the best investment(as their silver is not yet sold at a preset lower price)? Could this be the cheapest way to buy silver? richard