<<Loeb: So what can we do about it?
Mundell: The President should direct his Secretary of the Treasury, Larry Summers, to convene a meeting of the finance ministers and the central bankers of the U.S., Canada, Britain, Japan and the 11 European countries that use the euro. They should stabilize monetary exchange rates and the price of gold for a period from about a month before to two or three months after January 1.>>
Gawd these guys are STUPID beyond all description! Oh yeah, now, let's beg Clinton & Summers & the rest of the major world powers to "Please manipulate gold price".
This is what I want.
FREE MARKET!. OPEN MARKET!. FULL KNOWLEDGE TO ALL OF EXACTLY WHAT IS GOING ON WITH EVERY MAJOR PUBLIC GOLD STORE!.
My greatest problem with the current gold sales & leasing by governments world wide are:
1. Some bullion bankers, brokerage houses, hedge funds, & mining firms have knowledge of & input into the actions of The Central Banks and Treasuries of gold owned by the broad public. That knowledge is not available to the broad public.
2. There are no inventories & audits of the gold stores of the governments of the world.
3. Governments are(or have been) playing in the paper gold market. Despite the fact I have often been more long gold than I am currently, the idea that a government can take a postion in the futures market is beyound all belief!! I do not want them to support my position, or the position of my foes.
The idea governments can buy & sell puts & calls and make forward sales of gold is simply WRONG. I can find no stronger way to put it. The market must be allowed to operate openly & freely.
Does anyone else wonder if there are world governments "swimming naked" in the gold pool?
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