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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.93

+0.8%

Jan 9 4:00 PM EST

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To: Abner Hosmer who started this subject	3/14/2001 5:24:25 PM
From: teevee	Read Replies (4) of 116845

Attention Gold Price Conspiracy Advocates: If fear and greed kick in to take the Dow down to 80% of its high of about 11000, 8800 will be a key support point. After the run up in the POG to over $800 in the early 1980's, the G-7 Central Banks agreed and colluded at that time to sell as much gold as necessary every time an erosion of confidence occurs in the economy, capital and equity markets and in paper money or "coin of the realm". This is done for one and only one reason: to maintain confidence in the system. Long live the commoditization of gold. IMO, the central banks will continue to aggressively sell into any gold rally, especially now, given the current state of the economy and the equity and capital markets. The "bottom line" is that the central banks are the market makers for the price of gold and the POG is where it is for only that very reason. That is why I don't own "gold only" stocks or the metal in any form be it coins or bullion.

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