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

To: Hawkmoon who wrote (27046)	1/26/1999 12:22:00 AM
From: IngotWeTrust	Read Replies (3) \| Respond to of 116762

Ron, I do so love tackling a revisionist's inaccurate quote!(g) Ron sez: They (Fed Reserve) bailed LTCM for the same reasons they bailed out the Hunt brothers when they tried to corner the Silver market. Man, you blew it big time with this argument, dear debator. You need to go back and re-read history. The fed did NOT, I repeat did NOT bail out the Hunt's, they bailed out the commodity brokerage CLEARING HOUSES and big traders who were short the rising market!!!! You need to find yourself a new text, Ron. That history book you've dusted off is DEFINITELY missing a few pages. For the record: A) for every long the Hunts held in New York Comex, they were short 2 contracts on the London Bullion exchange. B) the Hunt's broke the Chicago Mercantile 90% Bag contract by taking delivery of all available, deliverable supplies backing that contract, and thus the contract was rescinded. C) the Hunt's still have all those 90% bags stashed off shore in a very very sunny, whitebeached place south of Key West. D) the Hunt's executed a very very healthy and smart financial maneuver: they allowed the gov't to conduct their liquidation of all but their physical silver, their original family oil company, and their originally bequeathed family real estate holdings. The gov't did all the advertising, color brochure color separations, paid all expenses out of the sales, including the extremely rare US gold pattern coins the boyz had collected over the years, fine/rare art, etc., etc., etc. Such a deal. Can you imagine an easier way to keep what you want and sell the rest long before the Buffet grab of silver, and the Phibro boys and their orchestrated run on silver from London? One thing the Hunt brothers are not now nor ever have been is "dumb." They were and still are very well heeled, tough and experienced negotiators/businessmen! Ah...nothing like a little truth to prick the bubble of revisionists' sugar plum visions dancing above their heads like the proverbial Ford Better Idea "light bulb"...pardon the mixed metaphor?? O/49r