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

To: John Hunt who wrote (35596)	6/19/1999 9:36:00 PM
From: baystock	Read Replies (1) \| Respond to of 116823

from yahoo GRERF thread: bolivars by: aujesse 2103 of 2114 In you latest post, you say not to count on a significant & sustained rise in POG. I wud agree w/ the sustained but possibly not the significant for a couple of reasons. In a recent interview, Jack Thompson, Homestake's CEO stated that total central bank gold holdings are 33,000 MT(metric tonnes) He estimates that all but 8,500 MT are spoken for thru leasing or "vaulting" whatever that is. He says this shows the gold mkt is "sold out" because there is not much gold left to lease and volume of late, particulary in NY at the Comex, is very light. He might be right if we examine this anaylsis a little further. Not all world CB's engage in leasing. I wud estimate maybe 25,000 of the 33,000 MT is with CB's that lease. Other readings have indicated an estimated 15,000 MT have already been leased by CB's, which means the gold market has already absorbed that selling. Now if you were a CB inventory manager would you lease 100% of your inventory? Or would 60%, 15/25 be a reasonable % of your inventory to lease out? Others have written that the real purpose behind the Bank of England's gold sale is to free up physical metal for leasors to pay back loans because of the scarcity of physical metal. Is that true? Beats me, but it might explain the very unusual manner in which they surprised the gold market with their sale announcement when almost all prior CB sales were done behind closed doors bank to bank on the QT. There are a lot of strange happenings going on in the gold market lately and all this speculation about double dealing by the BofE, Greenspan's comment last summer about CB lending, the bailout of LTCM and their connection to Rubin thru Goldman,Sachs. Whatever is going on behind the scenes is starting to see the light of day. And the light of day on these huge short position at the Comex of over 200,000 contracts has to make those shorts very nervous. Not to mention, those short the 15,000 MT of gold on lease. I don't pretend to know if those shorts will be forced to cover or what might tigger such an even. I do know that the hammer is cocked. Regards Posted: 06/17/1999 02:38 pm EDT as a reply to: Msg 2098 by bolivars View Replies to this Message

To: John Hunt who wrote (35596)	6/21/1999 4:16:00 PM
From: Alex	Read Replies (1) \| Respond to of 116823

Rabid anti-Westerner wants Milosevic's job By DUSAN STOJANOVIC in Vienna With Slobodan Milosevic's rule shaken by Serbia's withdrawal from Kosovo, an even more extremist and anti-Western politician is bidding to take his place. After quitting Milosevic's government when NATO-led troops marched into the southern Serbian province, Vojislav Seselj is poised to mount the greatest political challenge to the Yugoslav President since he came to power 10 years ago. If Mr Seselj succeeds, it will put into place a nationalist leadership even more strident and anti-Western than the regime NATO just tried to bomb into submission. Mr Seselj, a 45-year-old lawyer and Serbia's Acting Deputy Prime Minister, launched his political career on his success as a paramilitary commander during the wars in Croatia and Bosnia. Virulent in his support for a "greater Serbia", Mr Seselj once declared his men would "take out the eyes of Croatians with rusty spoons". NATO-led peacekeepers in Bosnia deemed his outbursts threatening enough to expel him from the country late last year. When Western officials recently accused Serb troops of raping Kosovo women, Mr Seselj denied it by saying they were too ugly for Serb men. On the eve of NATO strikes, he threatened that when "the first allied bomb" fell on the Serbian soil, "there will be no Albanians left in Kosovo". With Serbia defeated, its economy in tatters and the possibility of social unrest looming, many independent analysts compare it with Germany after World War I when Adolf Hitler came to power. Mr Seselj's withdrawal from the government - temporarily frozen by a decree - could signal hisfirst real attempt to take over. Mr Seselj said last week that his Serbian Radical Party "is ready for elections, and we want them as soon as possible on all levels. It's for the people to decide whether they are in favour of changes." In 1997, Milosevic's candidate, Milan Milutinovic, narrowly defeated Mr Seselj in Serbia's presidential elections in a vote many independent observers described as fraudulent. Since then, Mr Seselj has been gaining popularity and has acquired key allies in the army and the police. The Serbian Radical Party, which openly advocates ethnic intolerance, is already the second-largest in the Serbian Parliament, with 82 of 250 seats. Milosevic's Socialist-Communist coalition has 110 seats. - AP smh.com.au