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

To: Hawkmoon who wrote (26753)	1/22/1999 11:24:00 AM
From: donald martin	Read Replies (2) \| Respond to of 116767

<<What if Bre-X or Golden Eagle (MINE) actually had discovered HUGE gold finds?>> Interesting to see this, i JUST asked Claude Cormier about the existing stock of gold out of the ground versus annual production. (about 4.1 billion ounces above ground, about 80 million ounces a year coming out). Since gold prices didn't do much of anything after Mike de Guzman did the floppy fish out of the chopper, I'd say no producer or group of producers, is really in much of a position to affect market prices.

To: Hawkmoon who wrote (26753)	1/22/1999 11:25:00 AM
From: Enigma	Respond to of 116767

Ron - but we're in the realm of theory in those situations. Actually I've been suggesting for a while that there's a lot of opportunity for miners below $300 US especially in the countries like Canada where there is a weak currency. BTW are you watching those stocks I gave you, and hopefully you bought? Take care. dd

To: Hawkmoon who wrote (26753)	1/22/1999 1:13:00 PM
From: Bob Dobbs	Read Replies (2) \| Respond to of 116767

Ron: Some comparative estimates show the differences between gold and fiat based money inflation. In your oft-quoted example of the 16th century Spanish plundering of New World GOLD, the Europe's supply increased by roughly a factor of two, meaning an INFLATION of 100% or a DEPRECIATION of 50%, a worst case. In the rushes of Cal '48-49 and Yukon/South Africa '98 the inflation was less, because the world's above ground stock was, comparatively speaking, far larger in those periods. Now compare that with inflation of FIAT currencies throughout history. How many have there been since 6th century China? Perhaps a THOUSAND? Just a guess. Except for present-day currencies, how much have all the other fiat currencies depreciated? ANSWER: INFLATION of INFINITE % or a DEPRECIATION of 100% !!! Furthermore, gold has always reverted to its mean purchasing value over time. That's the empirical lesson of history. SO HERE ARE THE COMPARATIVE STATS: ******************** MEAN INFLATION MEAN DEPRECIATION GOLD ************** 0% (100% worst case) * 0% (50% worst case) FIAT CURRENCIES (excluding present day): ** INFINITE PERCENT *** 100% Where do you think present day fiat currency is heading? Why, that's an easy one - to the garbage heap of history! Bob

To: Hawkmoon who wrote (26753)	1/23/1999 12:20:00 PM
From: Mark Bartlett	Respond to of 116767

Ron, <<What would this have done to the price of gold knowing that 100 million new ounces were coming onto the market over the coming years??>> Do not confuse plundered spoils of gold/silver with mining .... and as to finds of this size affecting the market ... not much impact - this gold would not find itself on the market all at once ... it would likely take 20-30 years to mine such a find. All this talk of undermining gold with these huge finds is IMHO nonsense. MB