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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: kingfisher who wrote (1186)	5/24/1998 10:59:00 PM
From: philv	Read Replies (2) \| Respond to of 8010

Richard: I think the mere fact of Silver's relative inexpense (1/50) compared to gold makes for waste, and much has been lost over time. Silver has some real industrial uses unlike Gold. However, it is possible to be invested in Silver and Gold, one does not exclude the other. But Armstrong's attitude seems more than just bearish toward silver. It is as though he really dislikes the metal. However, he is extremely highly regarded, has a big organization and important clients. So, I for one do not dismiss lightly what he has to say, and worry that his prediction of low Silver price will come true. (He stated on a local talk show this spring that Silver could drop to 3.50) However, most of the articles I have read before and since do not support his position. What's a guy to do? One expert says buy, the other says sell. Phil

To: kingfisher who wrote (1186)	5/25/1998 2:14:00 PM
From: Ray Hughes	Read Replies (2) \| Respond to of 8010

Richard, Some U.S missiles have silver batteries containing thousands of ounces of silver. Missile detonates and poof, up in smoke goes a lot of silver. Or how about the countless X-rays plates that must be retained on file for years due to the need for proof a procedure was warranted to protect against suit or silver iodide medications. Lots of silver is gone forever. I found, as a metals Securities Analyst with over 30 years Wall Street experience, that many experts ignore or misstate the actual situation. The interesting question, often never answered, is why? I've had such persons acknowledge to me, off the record, that they knowingly distort, usually because they are paid to do so. One such person was an economist for a big-name Senator. We had presented totally opposing views at an institutional investor conference. I was bullish on copper, he bearish. While walking out to lunch I questioned his position and evidence. This economist said "you are right Hughes, but I know which side my bread is buttered on." The Senator he worked for didn't want to acknowledge inflationary implications of his economic policies so he was fed the "right" answers. In a "shoot out" between analysts on copper - me on the bearish side and someone unknown to me prior to this meeting, but from a major brokerage firm, on the bullish side. The other guy, being shown to be totally out of his depth, finally yanked out his billfold and produced CIA identification. He stated, in front of portfolio managers at Republic National Bank in Dallas, " I'll tell you why copper is going up - we are rigging the market." Believe it, many "experts" are grinding someone else's axe at your expense. RH