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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Abner Hosmer who wrote (6971)	2/1/1998 4:12:00 AM
From: Abner Hosmer	Read Replies (1) of 116762

"When they wrote that government ownership of gold does not contribute directly to general welfare, the study's authors...did not speak on behalf of the Fed. However, many outside the Federal Reserve take issuance of the study (International Finance Discussion Paper No. 582) as a clear sign the United States is considering a major change in its policy toward gold..." Vincent E. Cook in the Journal of Commerce (July 3, 1997) The home page of Stephen Salant, who co-authored the paper recommending that central banks sell all their gold: econ.lsa.umich.edu The paper itself can be downloaded with Adobe Acrobat. The paper consists of about 50 pages of equations, charts, and commentary, foucuses largely on the effects of sales on mining: econ.lsa.umich.edu There is apparently a review of the paper available on the web from the Christian Science Monitor, but I haven't yet been able to access it: csmonitor.com

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