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Gold/Mining/Energy : Gold Price Monitor
GDXJ 106.75-0.5%Dec 3 4:00 PM EST
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To: Bobby Yellin who wrote (27596)2/2/1999 6:20:00 PM
From: Zardoz  Read Replies (2) of 116791
 
"Just realized in a convoluted way that if gold were just another commodity why are the central bankers making such a big deal of unloading it..is that the only thing they can sell?"

It's not JUST another commodity. It was once the store of value in times of distress. But now options, futures, forwards, and swaps are better mitigating vehicles. {aka: demonitarizing gold} So if they must hold foreign assets, they should probably hold producing assets like foreign bonds. Gold is a non producing asset. CB's don't make a big point of unloading it, people like those on this thread make the big stink. Why doesn't the USA unload some of there billions held in JGB's, that alone would see a 2% rise in rates in Japan. Japan Gov has probably been selling US 30's for weeks. USA is buying Canada's bonds while Japan has been selling. One could suggest that Canada's bonds are much more stable then USAs.

Governments always focus on the big, and the powerful. CB care little of the small guy. You know that. Use to be that people thought the USA was a democracy, it never has been. Welcome to a capitalist world. Everyone cares more about their own shirts then the other's guy.

Here Rambus is up.... where's Don?
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