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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.80

+0.9%

Nov 19 4:00 PM EST

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To: d:oug who wrote (42420)	10/8/1999
From: Bill Jackson	Read Replies (1) of 116763

Doug, The feds of many countries have connived on this, resulting in the announcement of no sales for 5 years from CBs. At any time if gold gets too high they can satisfy the shorts with some clandestine sales. In time the rent for the gold will go up even higher and chill these short sales before they get going. Remember they have enormous leverage when they sold forward. Those caught bare assed(not enough production to cover the forward sales) are now getting killed, see recent Globe and Mail article. Each month there will be new problems for the next year or two until those either buy or mine enough to fill their contracts. It will totally wipe out the value of many of these mining companies, resulting in their absorption by major players who buy them and their obligations for peanuts and then mine their production to fill the contracts. I do not worry about the Y3K problems either. Bill

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