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Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

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To: goldsheet who wrote (57885)	9/5/2000 2:57:13 PM
From: Ken Benes	Read Replies (3) of 116756

I absolutely love it. The central bankers are leasing rather than selling because of the return they get from leasing. What a crock, in the meantime, those who borrow the gold, sell it into the market and invest the proceeds, receive a substantial contango on the difference between the rate they borrowed at and the rate they get. The bankers defer an outright sale because of the less than 1% they receive. The producers on the other hand are responsible for 60% of the derivative market, what a surprise. In simple language, the bankers have an agenda, and the miners lack the sophistication to realize they are being played for fools. This is the response by the wgc to the GATA expose. I particularly like the part about how the producers are thriving because of the derivative market. No mention of the shareholder. Investors in gold equities are the Rodney Dangerfields of the stock market. Ken

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