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To: Bill Murphy who wrote (3393)	2/12/1999 5:58:00 PM
From: Kaena™	Respond to of 81007

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To: Bill Murphy who wrote (3393)	2/12/1999 6:01:00 PM
From: Kaena™	Read Replies (1) \| Respond to of 81007

Bill, This from Kitco-any comments on Y2K and/or Gary North? Gary North's Y2K Links and Forums Category: Banking Date: 1999-02-12 16:05:11 Subject: Art Bell and the Gold Rush of '99 Comment: Because of the significance of this posting, I will not be posting anything else until Monday afternoon. I do not want any visitor to skip over this posting. I do not want anyone writing me some version of this letter: "Why didn't you warn us? We have been followers of this site for two years. Etc." Art Bell has 8 million listeners. I have been on his show three times in the last seven months. I will be on again on Friday/Saturday, Feb. 19/20. Let's go through some statistics. In fiscal 1998 (ended Sept. 30), the U.S. Mint sold just over one million ounces of gold coins. There was a y2k-driven escalation in 1998, as I have reported before. In January, 1999, the Mint sold 268,000 ounces. About 83% of these were one-ounce American eagles. Americans are allowed to put American gold eagles in their retirement programs, and the one-ounce coin has the lowest commission. That's the coin of choice for retirement programs. The tenth-ounce coins are best for survival conditions: more transactions per ounce. The Mint's output of these coins was in the 8% range. Maxed out, the Mint can produce a less than 4 million ounces of gold coins a year -- more like 3.2 million. The Mint started rationing coins last week. Art Bell has 8 million listeners. If 40% of them were to buy a single one-ounce coin, that would absorb more than the entire year's output of all gold coins. If 20% of them bought two coins, the same thing would happen. But they can't. The Mint is already maxed out. It's rationing coins. It could not absorb another 3 million buyers. (This is hypothetical; the 100 or fewer coins stores could not absorb a million orders of one ounce each.) But what about the tenth-ounce coins? They are sold in units of 50 coins: 5 ounces each. If 8% of the coins produced by the Mint are tenth-ounce coins, then there will be 260,000 ounces minted in 1999. That would be fewer than 55,000 5-ounce tubes. Therefore, if 1% of Art Bell's audience were to buy just one tube, they would absorb far more than the entire year's output. But they can't do this; the Mint is already maxed out. Today, if you want small coins, and you don't want to wait 12 weeks for eagles, try the tenth-ounce Canadian maple leaf. It may be available for another week. Maybe two. Next Saturday morning -- early -- I will tell 8 million people to buy tenth-ounce gold coins as soon as they can. I will tell them it's first come-first served. I will tell them if they continue to sit around talking about what they will do next December, they will be out of the competition by April. They cannot buy the coins right now, let alone next December. They must get on a waiting list today. That's what rationing means. Will 1% of them believe me? Next Saturday morning. A word to the wise is sufficient. Will 1% of you believe me? (I can hear it now. "Gee, Mabel, what do you suppose Dr. North means? I wish he weren't so subtle.")

To: Bill Murphy who wrote (3393)	2/12/1999 6:03:00 PM
From: Kaena™	Read Replies (2) \| Respond to of 81007

Bill, another Kitco post-have you heard anything about any other hedge funds that may be in a situation such as LTCM? Gambler (ISURE/BGO/POG) ID#432223: Copyright © 1999 Gambler/Kitco Inc. All rights reserved This is a buy & hold if I've ever seen one. And I don't mean nibble nibble/bite-I mean chomp chomp/swallow. They're highly leveraged to POG-they need $325 gold and about 90cents copper. This stock will make its BIG move when gold gets above $320. You can say this about many stocks, but few are as highly leveraged to the price of POG. I'm continuing to accumulate at these low levels-just bought some more yesterday. ( My information leads me to believe gold will begin another upmove early March. I mentioned this in a previous post. A particular US hedge fund is in trouble involving several bullion banks and is short gold big time. The Fed has been trying to help them as they did LTCM but will do no more than try to keep the POG at current levels. This hedge fund is having their heads handed to them on a platter related to their investments in Brazil and China. Several bullion banks are nervous and want to call in their gold loans. They're concerned with the problems in Brazil and fear that China is the next to devalue their Yuan currency. Of course the hedge fund has already sold the borrowed gold and invested the cash into some losing propositions. They need to buy/in the process of buying gold before things get worse in either of the two countries. They have been waiting for gold to fall below $280, but time is quickly running out. The word is that gold will NOT fall below $280 because of deflation fears and because $280 is crucial for keeping half the world's mining companies from going out of business. The story is unfolding, and I expect the news to surface by mid March to April time frame. This according to a personal friend/business client who was close to the source and recently abandoned ship from their firm ) . Gold put a bottom in late last August. Gold's climb will be slow in the beginning with setbacks and profit taking. I'm looking for gold to mkake its first big move this spring. I think $340 by late May. Next resistance will be $380 which will be broken through in early September. Then we'll be looking at $400 area resistance to be broken possibly in December due to Y2K fears. But I believe as POG begins to rise and breaks through the $300 barrier, trading will become very volatile. All of this is my personal opinion, and I'm buying/chomping big time! But BGO is only one of many that I'm currently accumulating. Good luck! Go Gold!!!!!!!!!