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

To: ahhaha who wrote (13363)	6/17/1998 10:54:00 PM
From: burner	Read Replies (2) \| Respond to of 116856

Can anyone advise on how to get current gold price? I have used Kitco in past but it seems to be on the limp. thanks, Dan Byrne

To: ahhaha who wrote (13363)	6/18/1998 8:46:00 AM
From: Henry Volquardsen	Read Replies (4) \| Respond to of 116856

ahhaha, With all due respect I disagree with you on a number of points. You refer to the ailing Japanese banking system as a 'silly excuse'. Frankly I am stunned that anyone could refer to the problems of the Japanese banking system as silly. Speak to anyone familiar with what has been going on in Asia the last few years and the problems with the banking system both in Japan and much of the rest of Asia. The absolute root cause of Asia's troubles is over investment financed by cheap loans. Those loans are now choking the banking system. It is the banking systems unwillingness to lend which is strangling busy activity. Fiscal policy reform? The last thing Japan needs is another smoke and mirror Keynsian bs program. They have had an unending stream of fiscal stimulus programs to no effect. They need structural reform and liberalization. Raising US interest rates would be a disasterous solution for Asia. It would slow US growth and deepen their recessions. I would like to make it clear when I stated that one of their policy alternatives was global inflation I was not endorsing it as a policy prescription or saying they would directly state it as such. What I believe will happen is they will put together a series of packages designed to prop up the Asian economies and stimulate Western demand. They will claim it is pro growth but I believe it will result in inflation. That is why I said that when you clear away the verbiage that prescription is little more than inflation. I personally believe this is a bad choice because it will only create a larger asset bubble on a global scale. I believe the sensible choice would be to allow the yen and other Asian currencies to depreciate to the point where their excess assets would have become attractive to foreign investors. The strengthening of the dollar would have slowed economic activity in the west as effectively as an interest rate increase and prevented an asset bubble. Yes it would be painful but there is no way out of this problem without some pain in the system and the market would eventually adjust. By choosing an inflation option, even if they don't admit or realize they are doing so, they are only deferring the problem and making the pain worse later. Henry