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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: Bobby Yellin who wrote (41633)	9/30/1999 8:18:00 AM
From: lorne	Read Replies (2) of 116764

Hi Bobby. Some thoughts here Re. your question as to why CB announcment. September 29, 1999. Forward Rates Do Not Compute as COMEX Stays in Contango " By its stunning announcement Sunday evening, the new European Central Bank served notice that it will not tolerate politically motivated Anglo-American interference in the gold market, and that the Bank of England is now on probation as the central bank with principal responsibility for overseeing this important market. The details of the announcement have received full coverage by the financial press and wire services. Only time will reveal its full significance. But what already seems clear is that not since Charles de Gaulle and the Banque de France mounted the Franco-American gold war in the 1960's has a European central bank so directly confronted Anglo-American hegemony over the international monetary system. And this time it is not merely a European central bank, but the European Central Bank." Full story >>>>>>> goldensextant.com

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