Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Hawkmoon who wrote (36558)	7/5/1999 4:42:00 PM
From: Tomas	Respond to of 116762

Action to stop gold sell-off - BBC, July 5 Prices have fallen sharply since the UK announced its sell-off plan A jeweller is taking legal action against the UK Government to try to stop it selling gold at auction on Tuesday. Kim Rose, from Southampton, argues that the sale will cause the price of gold to fall. He says the government is acting irresponsibly. Mr Rose plans to take out an injunction in the High Court in an attempt to stop a series of Bank of England auctions. He is hoping for a hearing on Tuesday, when he can try to persuade the court to postpone the auctions pending a full hearing. "The price of gold has already dropped and it's in danger of dropping more once the sale goes ahead," said Mr Rose. "It just doesn't make good business sense to sell gold at the lowest prices for 25 years and invest 40% of the profits into an unstable euro. I believe the government has handled this in a reckless and irresponsible manner." Prices have been under pressure since May, when the UK said it planned to sell half its gold reserves and invest in a selection of currencies to spread the risk of depreciation. The Treasury is following the example of other countries, like Switzerland, which have decided to replace gold, which generates no interest payments, with other more productive assets. UK Government criticised The price has fallen by more than 10%, and the World Gold Council, which represents producers and users, has been highly critical of the UK Government. "I presumed the WGC or someone else would make this stop, but when I realised it was approaching the 11th hour, I felt something had to be done," explained Mr Rose. "I am only a small jeweller and I'm not going to be able to fund it all on my own. It seems a lost cause, but they are the best causes to fight for." Twenty-five tonnes of gold is due to go under the hammer on Tuesday in the first of a series of sales. news.bbc.co.uk

To: Hawkmoon who wrote (36558)	7/5/1999 5:10:00 PM
From: donald martin	Read Replies (1) \| Respond to of 116762

<<Why is it alright to slaughter innocent plantlife and not wildlife?>> I have been asking this question (and getting dirty looks) for some time now. I take the argument one step further. How MANY innocent vegetables are you prepared to SLAUGHTER just to make one mediocre salad? Hardly a meal to begin with. On the other hand, I can cut the head off of just ONE cow and eat ravenously for a month. I'd say that's much more moral and ethical, on a cosmological scale, than the exploitation or death of hundreds, nay thousands, of plants. However, this argument doesn't go very far in our vegetablistic society. LOVE PLANTS! DON'T EAT THEM!