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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: Rarebird who wrote (37271)	7/17/1999 3:49:00 PM
From: Crimson Ghost	Read Replies (3) of 116764

I'm not saying gold loans at giveaway interest rates are illegal. But they are an extremely effective weapon against anybody long gold or gold shares. Sure short sellers can lose big time theoretically, but the really big ones like Goldman Sachs seem quite confident that the CBs will always come up with enough gold (via loans and sales) to bail them out of unforseen problems. Too there is good reason to believe at least some well connected gold shorts are made aware of pending CB sales in advance. And that is illegal. But as the world gets more and more short gold at ever lower prices and the CBs start to run out of available supplies to lend, the risk to the short sellers is increasing sharply. There are limits to the ability of the establishment to beat gold ever lower as mines shut down and the demand for physical starts to respond to dirt cheap quotations. Nobody knows exactly where this point is, but I suspect it is not far below current prices.

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