Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Zardoz who wrote (23732)	12/2/1998 3:06:00 PM
From: John Mansfield	Respond to of 116764

'> The bank will of course recover the money eventually. I don't think anyone No it won't. It will be lost forever. > is suggesting that your money is vaporized, but it will cause a major hassle > for all involved to sort out what happened. Multiply one bad transaction by > a million, and things slow to a crawl. If problems are too frequent - a few > percent of transactions done incorrectly - the computer system is > essentially useless, less efficient than keeping the records with pencil and > paper. > > Blake Leverett At the WDC Y2K meetings, VPs from NY financial organizations have reported that during the 1987 stock market meltdown, the trading volume was too large for their systems to process. After several weeks of analysis, several companies decided to write off the anomalies, "You may owe us millions or we may owe you millions but neither of us can reconstruct what happened." This is one reason that the meetings are attended by executives from NY and the buffet is so lavish. They (I'm not naming names) are running scared (taking Y2K seriously). WDC Y2K is their way to get the word out, to communicate with the Fedgov that Y2K is a serious matter. Overall, it has been a noble effort but not the success I'd hoped it would be. I have met some interesting people at WDC Y2K, heard some incredible stories... I have shared all I can but the comments before and after the meetings are the most shocking. cory hamasaki 396 Days, 9,506 Hours. x10.dejanews.com

To: Zardoz who wrote (23732)	12/2/1998 3:17:00 PM
From: Enigma	Respond to of 116764

Hutch - when you stick to charts and your reasoning around the charts - it seems you are on solid ground - and you interpret then as you will. It's when you make statements about gold not being a store of value, etc., that you are entering shaky ground because you ignore history and reality. Also a lot of people on this thread have a longer time horizon than you do. I'm not denying BTW that many rationalise the bull case too - often in the light of conflicting evidence. But your statement that there's not enough gold to go around was very true - but a bit of a clanger coming from you because it reffutes much of your reasoning about the role of gold. E