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

To: Alex who wrote (19643)	9/24/1998 6:05:00 PM
From: Lalit Jain	Read Replies (1) \| Respond to of 116763

Alex, A potential 1/2 % cut by the Feds will only be a band aid solution. The problem is much deeper, in my opinion. The LTCM has supposedly lost $100B, that is more than the total US reserves in gold (~260M ozs). There are probably more hedged funds in the same boat, and some are short gold. In the short run, these funds will try to short more, in the hopes of buying back at lower prices. But I think this will fail, and will have to buy back at higher prices. Personally, I do not think there will be enough of the yellow metal available to buy back on the market. But again, I could be wrong. Regards, Lalit Jain