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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: paul ross who wrote (1379)10/6/1998 3:16:00 AM
From: Kaena™   of 81589
 
paul: thanks for posting that. I doubt the IMF will sell gold to help the needy in Brazil, stabilize the economy, etc. (real agenda more likely-bailout the bank lenders). But even if they do pander to the desires of Britain and the US and sell some gold, it seems pretty obvious that this gold is already spoken for by the precariously positioned hedge funds and other players short in this market. This gold would find its way back into the hands of the CB lenders thus freeing up fiat currencies to contribute a little more to bail out Brazil. G7 are pretty spooked with Latin America falling the lead of Asia. Money flow has done a 180 and know flows to the USA leaving behind depression in its wake. If the USA has a serious recession exacerbated by South America, this money cannot return to complete the cycle.
The way I look at this present situation is this: What if this talk of IMF gold sales does not produce the desired affect of knocking down the price of gold more than a few dollars? I think that is when commercials will smell blood and let the shorts have it! Then we qwould run to the $320-$350 area before a brief resting period and then back to onward and upward.
I sincerely do think a new gold bull has started and as many have said, gold will climb a wall of worry with lots of bumps along the way. Buy on dips!
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