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

To: IngotWeTrust who wrote (27056)	1/26/1999 12:46:00 AM
From: dave	Read Replies (1) \| Respond to of 116874

Hi ole 49r Thanks for the history. Do you have any idea how much silver they moved out of the U.S.? Good luck Dave T.

To: IngotWeTrust who wrote (27056)	1/26/1999 7:44:00 AM
From: long-gone	Respond to of 116874

<<C) the Hunt's still have all those 90% bags stashed off shore in a very very sunny, whitebeached place south of Key West.>> Ole, Thought you'd like to hear what I had heard while in Texas last. The way players down there are telling it, Hunts have been living on that silver now for some time. some of the stories I heard were that last move to the $4.30 range was the near last of the Hunt silver hitting the market. Some say they now have on that unnamed beach only around 10-30,000 oz.. Just an update - based on rumor.

To: IngotWeTrust who wrote (27056)	1/26/1999 8:31:00 AM
From: Hawkmoon	Respond to of 116874

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!!!! Uh... ole 49r... the Fed played a very similar hand with the Hunts as they did with LTCM. They had to bail out the banks who had extended the loans to the Hunts in the first place. If they had permitted the Hunt's to defaut to the tune of over 1 billion dollars, it was quite likely that a panic would have ensued as the soundness of the banking system fell into question. So LTCM and the Hunt's were able to blackmail the system, all due to the stupidity and greed of certain bankers failing to perform proper risk analysis. I will not argue or debate your other points regarding the Hunt's financial prowess. In fact, the scenario sounds quite logical. But again, the actions of the Hunt's and LTCM both resulted in a situation where the Fed had to organize a bail out to save confidence in the banking system. And whether you were under a gold standard or not, someone would have had to step in or face depositor's withdrawing huge amounts of dollars/gold and forcing the calling of loans and foreclosure of mortgages. Let me say that again,... :0) Under Fiat OR GOLD, confidence in the banking system is tantamount to a successful economy. HOWEVER even a gold based system is vulnerable to mass runs on banks by depositors. Take the money out of the bank, Fiat or gold, and loans outstanding are "called", and without the ability to pay off that debt, the lendee is forced into bankruptcy. I don't think even yourself would be able to deny the above scenario. But then again, maybe you'll surprise me...:0) Regards, Ron