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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: goldsnow who wrote (50011)	3/4/2000 11:48:00 AM
From: Hawkmoon	Read Replies (2) of 116764

And I guess the Europeans and Asians aren't complaining about having to spend more for energy just as they are trying to emerge from recession/depression? Considering that oil is denominated in US dollars, their weak currencies (except the yen) are being hammered by this artificial inflation inflicted by supply quotas. Free markets are just that. OPEC is a non-free market oriented cartel. They seek to control prices and monopolize production. Free markets mean that oil producing nations produce according to their cost of production. The lower the cost of production for oil, the more market share they can capture, thus eliminating their competition or imposing efficiencies in their production sector. Thus, with prices rising due to artificially imposed price controls/manipulation by OPEC nations, there is nothing wrong with the US decreasing their dependence by issuing out an extra one or two million barrels a day from the SPR. That would last for a period of 250-500 days and put a lid on this manipulation by OPEC. I don't mind a nation making money on their natural resources, but show me where this type of blatant monopolistic behavior is tolerated in the copper, gold, or silver industry. Reaping an easy 100-200% percent gain over cost of production is extortion and certainly the result of a "Free Market". Regards, Ron

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