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Gold/Mining/Energy : Gold Price Monitor

GDXJ 117.61

+3.0%

Dec 19 4:00 PM EST

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To: Alex who wrote (43942)	10/26/1999 4:10:00 PM
From: PaulM	Read Replies (1) of 116816

Table of Official World Gold Holdings gold.org Worth a second look. Pretty obvious the U.S. is making its way down the right hand (uncovered) column. Why Russia? The IMF has them over a barrel. Kuwait? Because Iraq still considers it part of its territory, Kuwait is the only remaining gulf state strongly influence by the U.S. See.... stratfor.com Furthermore, the U.S.'s choices are narrowed because most of its friends have already lent or sold (or announced sales like the BOE) and because any bank preparing for entry into the EU will not lend or sell. Still, the BS from gold bulls about "no gold hitting the market" and that lower lease rates are due to no borrowing is just that: BS. Gold is hitting the market and that is the point of all this. The good news is the stronger yen and EU cap will more than make up for all this. The question is what is to be gained by buying time and why? (e.g., see BOE bailout of Ashanti shorts at... coinmag.com ) A while back the poster called ANOTHER made a point about Roosevelt's gold confiscation that I had never really thought about earlier. Like today, banks had made improvident dollar loans in the 20's, but at the time the dollar was anchored with gold. So confiscation was a way of tapping unlent gold for the bank bailout. The point is you can bet the U.S. and BOE are using this time to make sure the "wrong" people aren't on the wrong side of a free gold market.

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