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Gold/Mining/Energy : Gold Price Monitor

GDXJ 92.99

+2.9%

Nov 7 4:00 PM EST

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To: d:oug who wrote (63679)	2/13/2001 3:49:46 AM
From: sea_urchin	Read Replies (1) of 116753

Doug : "....new variation on an old theme: the plunder of South Africa's gold reserves for the primary use and benefit of British and other outside interests." While I appreciate your enthusiasm for the future of South Africa as result of Uncle Bill's visit, I just don't see how the British are benefiting from the continued plunder of South Africa's gold reserves when the Bank of England is a SELLER of its OWN gold? And, at lower and lower prices. Looks to me like they just want to get rid of it --- at any price. A hundred years ago, the Bank of England stocked up on South African gold which it acquired for peanuts. And, continued to do so for the next 50 years when the gold price was held at or below $32 an oz. Then, I can appreciate how SA was being plundered. I can also accept that Anglo American can, today, pull many strings with the ANC --- like stopping the merger of Goldfields with FrancoNevada so that it could have Goldfields for itself. But, to suggest that the Bank of England sells gold so that private speculators in the US can make money by short selling is a bit too far fetched, even for my vivid imagination.

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