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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: Bobby Yellin who wrote (35435)	6/16/1999 11:39:00 AM
From: Ken Benes	Read Replies (1) of 116764

Morgy: I think the most important part of Armstrong's message was the reference to GATA as a two man tag team. Sort of a David against Goliath, except in this case GATA represents the interests of the producers who are great friends and partners of Goliath. Imagine what would happen if the producers announced a meeting in which they were going to explore removing all gold produced above 250.00 an ounce from the market and replace it with above ground gold mined in the vaults of the cb's. Instantaneous chaos in the well managed gold market. Remember a substantial amount of gold that has not been sold has been leased. Removing the leased gold along with gold that will not be sold under any circumstances(a good part of the german, French, Italian, and Swiss gold) will leave little left to filter into the market. The sham will be exposed and gold will be freed to find its equilibrium price. Why will this not happen, simple, a combination of GATA, the producers, and the CB's are too busy flying around in private jets enjoying the good life at 260.00 gold. Why would the producers want to rock the boat and be kicked out to fend for themselves in the real world. Ken

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