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

To: Mark Bartlett who wrote (26696)	1/21/1999 9:11:00 PM
From: donald martin	Read Replies (1) \| Respond to of 116784

hedge fund oversight You try to implement anything at the US governmental level and they'll all run off shore (like many of them do anyway). Try implementing something globally (UN-based?) and they'll end up being set-up in rogue states. Yes, transparency is key. But it can't be forced (very well) on market participants by a governing entity. The LTCM fiasco underscores that ultimately it's the parties to a transaction who are responsible for making assessments of contra-party risk. Credit discipline went out the window for the lenders there, just as it went out the window in Southeast Asia. (I think Brasil's a LITTLE different; we will see.) I think it's the unwavering faith that the US or some other "big" entity can step into situations and set them straight that makes gold a good disciplinarian. In the Bema Gold thread tonight, someone brought up the risk of China devaluing. (With even a wry suggestion that they might default altogether...to teach us capitalist pigs a thing or two.) Where WILL you find a store for value if China and the US get into a "Beggar Thy Neighbor" pixxing contest with their currencies?