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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: russwinter who wrote (2266)9/21/2001 12:08:39 AM
From: Claude Cormier  Read Replies (1) of 4051
 
<Gold Council, Veneroso>
The missing ounces are used up in the paper carry and derivatives trades (I suspect mostly long treasuries, long USD, short gold, a lethal one in the last week). The gold itself may not have really gone anywhere except that it becomes somebody's liability (JP Morgan, Goldman Sachs, Deutsche Bank) and potentially can't be paid back to the CB when one of those institutions blows up, or even if they get credit downgrades (the myth of the AAA credit).

Yes... but who are the other party... the buyers.
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