Hi Roebear, Thank you for posting the following about the Swiss Bank Corp.
<New York-Nov. 14-FWN--THE COMEX DIVISION OF NYMEX TODAY reported that Swiss Bank Corp., who will cease to act as a Licensed Depoistory for the storage of gold and silver deliverable against COMEX's gold and silver futures contracts on Nov. 21, 1997, has informed the exchange that Swiss Bank has been incorrectly reporting the amount of gold and silver eligible for delivery against the respective contracts.
Due to an error in reporting stocks, the Metal Warehouse Statistics from the close of business on Nov. 13 incorrectly showed a total of 3,811,872 troy ounces of silver and 75,284 troy ounces of gold at Swiss Bank Corp.
The actual total was 335,203 troy ounces of silver and 43,696 troy ounces of gold.
Today's inventory report, dated Nov. 14, 1997, correctly reflects the transfer of all Swiss Bank Corp. gold and silver inventories to Republic National Bank. >
In reference to what I think. . . I am greatly encouraged by this news as I have long felt that the numbers pertaining to precious metals have been manipulated for many years by many governments and central banks, including those in the GOOD 'OL US of A.
It is important to remember that the physical gold in the treasury is hidden from the publics view and that this cloak of secrecy is always an invitation for bureaucrats and politicians to indulge themselves in every manner of finanacial obscenities, political corruptions and skulduggeries. <a time-honored Slick Willies Specialty>
Having said that, the price of Gold and the value of the Gold Stocks, greatly but not entirely, depend on the publics perception of reality and not on reality itself. In this regard I believe the public treasury has been raped and and the public conned by our <most honorable elected and appointed servants> most of the time.
In correcting these abuses there is one of two possible senarios that I suspect will be played out. . .
First. . . . a <HUNT> style squeeze on the national treasurys and the central banks . . . . or a surer and much slower technical base will form that will bring precious metals back to its historical role.
Personally, I prefer both to happen at the same time, but I believe the former will be the case. It will take time. . .
Eakole |
