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

To: Cynic 2005 who wrote (33351)	5/7/1999 10:59:00 AM
From: Ron Everest	Respond to of 116920

<<<<<I see the move by Brits as an act of desperation and we don't need any more insider information than this. Short the heck out of bonds and equities, especially banks.>>>>> Open blatant desperate manipulation......there will be a lot of people hurt when the floor weakens on equities. Many companies and governments are not Y2K compliant. Lead times needed to become compliant are much too short, takes a medium to large entity at least 3 years to fix either with code or new software. US govt/military etc cannot meet the time line required. Was talking with a very learned person familiar with Y2K situation yesterday who stated that the wisest move with regard to equities would be to cash out prior to Jan 2000 and wait for the buying opportunity. I buy into this and expect to see serious erosion start to occur prior to January 2000 as this reality is realized. If these statements are mostly true then the market cannot avoid the problem and even compliant companies will be sucked into the vaccuum. It is entirely possible that this man's view is a "no lose" safe scenario. Only downside that I can see is that one might miss out on small upside between now and the occurance. That translates to security of GOLD IMO.

To: Cynic 2005 who wrote (33351)	5/7/1999 11:11:00 AM
From: Dipsey	Read Replies (1) \| Respond to of 116920

Mohan - Agree, strikes me as a desperation move also. Some pertinent points: First. The timing of this announcement, coming as it does upon the heels of a sustained upward move in the POG, seems specifically designed to halt/reverse that price momentum. Second. The time frame for the proposed sale is sufficiently great that it should not have an enormous effect upon the supply/demand flow of the metal itself. Third. They have yet to sell any, and if they do commence sales there is nothing to prevent them from revisiting this decision at some point in the future. Ought to be come interesting activity among those having futures positions... Regards, Dipsey