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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: PaulM who wrote (41839)10/12/1999 5:32:00 AM
From: Bobby Yellin  Read Replies (3) of 116764
 
Hi Paul
Besides my still believing that the CBers wanted to kill the gold carry traders, the more I read the more your take on the situation
stands out
I do hope you add more to your thoughts-this is really getting fascinating as it starts playing out more-I have read so little re this aspect. Again I heard a rumor last week that this was a major
intention of the European move..and I have seen hardly any commentary
"To: Bobby Yellin (41627 )
From: PaulM
Saturday, Oct 2 1999 1:39AM ET
Reply # of 42740

Hello B. My take on the CB statement is that it is an abandonment of the U.S. dollar.

Here's a good link which I think puts this in historical perspective (especiialy the sections
"How Forex Intervention Affects the Money Supply" and "The Breakdown of Bretton
Woods") When reading, just substitute Japan for the Germany of the the 70's, and
substitute the ECB for the DeGaulle of the 1970's.

aci.net "
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