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Gold/Mining/Energy : Global Platinum & Gold (GPGI) -- Ignore unavailable to you. Want to Upgrade?

To: SnakeInATuxedo who wrote (5158)	2/22/1998 8:05:00 PM
From: JACK R. SMITH JR.	Respond to of 14226

Lawrence, I think that your idea makes a great deal of sense, and I go on record in favor of it. Depending on the deal, I would invest or not. Tell me the deal that you propose. I have had some silver-backed perferred stock for some time. It pays me interest of well over 4 percent and each share is backed by 4 ounces of silver at this time. Only problem is, (and Zeev and I have discussed it on this thread) that it trades at a discount to the acutal silver price. As an example, when silver was at $7.00, the sock was trading at 21. Theoretically, it should have been close to 4x7=$28. If your platinum backed bonds were immediately and continuosly convertible, then I would by them after considering the market and the interest rate. I truly like instruments that pay interest and give me an opportunity to trade the underlying "backing". Good Idea!! Platinum-backed-bond, Jack PS--I hate this new spell-checker on the thread--I refuse to edit this one!