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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: Alex who wrote (60528)	11/4/2000 2:12:55 PM
From: Ken Benes	Read Replies (1) of 116779

A key point that was overlooked in your notes, the cb's hold 33000 ounces of gold, but how much is in the vaults. If the total amount leased is 9 to 12 thousand tonnes, the 33000 tonnes is reduced to about 20,000 tonnes. At some point in time these discrepancies will have to be reconciled, however, I still believe it is going to take a panic situation for this scenario to unfold. Trying to explain the concept in your notes to an individual whose mental acuity is limited to markets go up and markets go down, markets are in balance because for every ounce borrowed and ounce has to be bought to cover the debt is fruitless. It is better to use your energies to keep posting your notes to the board. Ken

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