SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Clown-Free Zone... sorry, no clowns allowed
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Lucretius who wrote (19736)9/19/2000 9:50:25 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
lol, finally something really good outta Kaplan (the BoE morons have never been called complete idiots in a nicer manner, rofl!):

KAPLAN'S CORNER: QUESTION: What did you think about today's Bank of England auction of 25 tonnes
of gold? ANSWER: The result was exactly what classic economic theory would dictate: in any auction in which
the quantity is known far in advance by all participants and the price is to be determined, the price will drop
immediately before the auction so that the seller will get the lowest valuation possible, then the price will
rebound exactly to its pre-auction level. Thus, gold dropped from $272.50 to $270.60 spot just long enough for
the sale to be completed, then rebounded immediately thereafter to $272.50. It is indeed surprising that, given
repeated periodic sales at intermediate-term lows, the Bank of England does not sell gold the way that the
Swiss and other central banks do. Perhaps the British are still subconsciously attempting to atone for the
excesses of their once-great empire; since the buyers of the gold are primarily from Britain's former colonies,
perhaps this is serving as a sort of karmic repatriation of wealth.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News