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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.70

-0.3%

Dec 5 4:00 PM EST

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To: Ken Benes who wrote (35679)	6/23/1999 1:15:00 AM
From: Bob Dobbs	Read Replies (1) of 116796

Unfortunately, what you say is correct. Gold is such a political metal, the government feels the need to step in, or shall I say, step on the industry from time to time. During WWII the US government closed all gold mines to keep miners working at more "productive pursuits." In no other industry I can think of has government imposed such draconian measures (except perhaps those underground). What you're proposing is very logical, but potentially risky for the gold producers to engage in. There are political forces at work that I am doubtless unaware of, with vested interests diametrically opposed to an organized effort. These interests will condemn such a practice as "a cartel, ... [as] rigging a market, ... [as] being reactionary." Tread lightly friends. Bob

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