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To: NickSE who wrote (66002)	10/4/1999 7:03:00 PM
From: NickSE	Read Replies (1) of 86076

THE FIX WAS IN: BRITS ROLLED ON GOLD nypostonline.com THE price of gold soared last week after a number of Central Banks said they won't unload extra gold onto the open market for the next five years. The precious metal jumped to $329 an ounce, up almost 30 percent. We outsiders will probably never know what prompted the statement by the 15 governments. But it is very interesting that an outfit called the Gold Anti-Trust Action Committee, headed by former pro footballer Bill Murphy, recently hired lawyers in Britain and enlisted the help of Parliamentary members to find out if the price of the precious metal was being purposely kept down. Why England? Because the Bank of England announced last May that it was going to sell tons of gold on the open market. Whenever there's a big seller like that it obviously keeps the price down - whether it's gold or dog biscuits. "It just raised the whole issue of what was going on. It's real simple," said Murphy. "The powers that be went to the English government and said we can't let gold go above $290." That, of course, isn't the way markets are supposed to work. So Murphy's group - headquartered down in Houston but reaching farther through an website - pestered members of Parliament to bring up the gold sale for debate, which occurred this past June. Senator Phil Gramm, chairman of the U.S. Senate Banking Committee, got a copy of the Parliament debate in July. Was Murphy the one who started the ball rolling that eventally caused the 15 banks to announce that they were laying off gold? We'll never know. But it's as good a guess as any right now. It looks as if someone manipulated gold prices again last week. Despite being at $329 an ounce in the early part of last week, gold closed at just under $300 an ounce on Thursday. The strike price on gold futures contracts just happens to be $300 an ounce. The very next day gold went back up to around $311 an ounce.

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