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Gold/Mining/Energy : Gold Price Monitor
GDXJ 94.04+0.6%Nov 21 4:00 PM EST
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To: John Hunt who wrote (33320)5/7/1999 1:15:00 PM
From: Investor-ex!  Read Replies (1) of 116764
 
Five monthly sales starting in July. Sounds like 'the plan' to attempt to contain POG during ramp up to Y2k rollover and the good ol' Brits get to do the honors.

Of course, this is a fraction of the annual gold trade and the banks are mostly selling this stuff to each other, but aside from these minor points, you can't beat this sort of manipulation for both its effectiveness and its obviousness.

There must be a law in effect where any central bank that contemplates selling any asset must first proclaim its intent well in advance of the act to 'ensure' its actions will not be 'disruptive' to the market. The effects of additional supply must be fully realized in the market prior to the act of selling. For it is plain, the best exercise of fiduciary responsibility is to drive the price down when you are selling assets held in trust in order to lock in the lowest possible price for those assets. All responsible, sensible central bankers know this to be true and the legal and regulatory oversight bodies evidently wholeheartedly agree.

You can bolt the cover to the pressure cooker for a while, but sooner or later, you'll get oatmeal on the ceiling. And the fire isn't going out, it's getting hotter.
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