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To: JRI who wrote (122551)	5/5/1999 5:02:00 PM
From: Lee	Respond to of 176387

John,..Re:.If inflation really was set to increase (significantly), wouldn't we have seen a bigger rally in gold? I don't think it has the same significance that it did in the seventies and eighties because there are better ways, (more profitable), to hedge nowadays. Like currencies and bonds for instance. But I'm aware that a lot of people disagree with that view, particularly LT. <G> Plus, various central banks have been selling it in recent months and the IMF is talking about selling some it's supply also.