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To: Hawkmoon who wrote (25654)	1/8/1999 9:39:00 AM
From: Francis R. Biscan Jr.	Read Replies (1) \| Respond to of 117273

Morning Ron, >>It BLACKMAIL, I TELL YOU!!! BLACKMAIL!!!!<< They have eyes and ears. When we bail out funds like Long Term Capital for many Billions more, they find justification. It is a poor precedent that has been set and it is hard to turn back the clock. >>And it is a taste of what is to come later on this year as some of these countries are thrust into recession / depression by the withdrawal of investor assets to safer harbors, as well as a massive credit crunch.<< I believe you are correct here. They will have every excuse they need. Have a good day, Rich

To: Hawkmoon who wrote (25654)	1/8/1999 10:16:00 AM
From: jgibbs	Read Replies (2) \| Respond to of 117273

Ron, Need a short lesson in money 101, if you have time. Since the US and others are no longer on a gold standard, what difference does it make what the price of gold is in relation to a currency? Why would the fed want to "protect the currency against a resurgence in the price of gold?" Wasn't the dollar just as strong when gold was 350 or higher? Hard to figure out the connection what with CB's selling the stuff, etc. I know that gold is cheaper in foreign currencies when the dollar is lower, but so what? What does the price of gold have to do with the dollar? The best, JimG