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Gold/Mining/Energy : Gold and Silver Mining Stocks

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To: marynell who wrote (2127)	9/16/2001 1:28:23 PM
From: russwinter	Read Replies (2) of 4051

<Governments all over the West will sell gold to suppress the price.> Some, but I don't believe all, as most will fend for themselves. The news out of Latin America is an important example that reflects a sea change in philosophy. It is primarily US financial institutions that are involved in gold derivatives and carry trades (mostly short gold/long eurodollars) that are in the most trouble, so it could be the US only that will try to suppress. Mostly I think they will just try to keep the "delta" (extreme price moves that make the black box formula highly flamable) in check rather than actually suppression (will be impossible because buyers will line up en masse for the free gift). It is interesting that Greenspan sent a fairly clear message (for him) last May to players in the gold derivative market to get their house in order. That I think is his signal that the Fed would not be in a position to bail them out on this trade. In effect the Fed (Custer)is down to a few bullets at Little Big Horn. I'm not so sure gold suppression is much of a concern right now in the greater scheme of things.

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