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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Enigma who wrote (35546)	6/18/1999 12:05:00 PM
From: long-gone	Read Replies (1) \| Respond to of 116785

protectionist? Friday June 18, 10:22 am Eastern Time Senate okays $1.5 bln steel, oil, gas loan program WASHINGTON, June 18 (Reuters) - The U.S. Senate approved legislation on Friday establishing a $1.5 billion emergency loan guarantee program for the steel, oil and natural gas industries, which have been suffering from low commodity prices and foreign imports. The program would provide $1 billion in guarantees to steelmakers, who could qualify for loans up to $250 million, while oil and natural gas producers would have access to $500 million in guarantees and could borrow up to $10 million each.(cont) biz.yahoo.com

To: Enigma who wrote (35546)	6/21/1999 8:55:00 AM
From: Ken Benes	Read Replies (2) \| Respond to of 116785

What do you mean that the producers cannot and will not act as a cartel. Since when is looking after your interests, particularly in an environment when contra parties have an interest in price fixing the commodity you are selling, acting as a cartel. The producers cannot and will not act as a cartel for one main reason, they are subsidiaries of the central banks. The term subsidiariary is tantamount to subjects and subjects get directives, they do not give them. Any other industry, that I know of would close down operations for the portion of their goods that were being sold at a loss. The removal of 250.00 produced gold and replacement with cb gold is part of the new paradigm in business. Corporations have elaborate linear programs that constantly monitor the pricing of their products and the availability of alternatives that can be quickly substituted in order to maintain profitability. In the gold markets, the cb's are telling the market that they have plenty of gold that they are willing to sell in the 250 range. Whether this is being done to control the price or not is incidental. The gold is available and the producers should substitute above ground refined gold for in ground gold that needs extensive processing and transportation. It is simple and GATA should focus on this rather than the ineffective public relations campaign that is designed more for effect than results. If the gold market is not being manipulated, than the price of gold will remain where it is. If the current price is an artificial price, than it will return to an equilibrium price of supply and demand very quickly once the rigged market collapses. I find it inconceiveable that you, the producers, and the analysts do not consider this course of action rather than the current scenario that is represented on this board: news, complaining, justification, etc, etc, etc. These actions will lead to dead ends and frustration. Ken