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Gold/Mining/Energy : Gold Price Monitor

GDXJ 145.00

+2.0%

Jan 23 4:00 PM EST

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To: Ken Benes who wrote (48924)	2/12/2000 5:02:00 PM
From: Enigma	Read Replies (2) of 116914

The B of E has acted in a strange and suspicious manner - IMO the decision to implement auctions was completely political over the objections of Bank officials - and the BofE/Govt. has a lot to answer for relative to Ashanti/Ghana. A lot of the old boy network in action. As for the other CBs, it seems to me that the leasing got out of hand - after all what sense does it make to lease something at 2 % if you drive down the value of the principal? Apparently the discussions leading up to the announcement by the 15 banks started about a year ago - it must have taken all of that time to get the parties on side.. The B of E auctions have been a disaster all round. But protest against it doesn't have legs politically in the UK.

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