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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Enigma who wrote (6756)	7/7/1999 9:39:00 AM
From: sea_urchin	Read Replies (1) \| Respond to of 81972

DD : Again I agree with you. With penalties being so high it would have to be some speculator who attempted it in a big way. Clearly, to effect a conspiracy against the gold price for any length of time is a massive undertaking where the chances of being detected are very high. But my main reason for not believing in conspiracy theories concerning POG is that I contend that most big bankers/traders/whoever are simply not smart enough. In my view most top officials in major organisations, particularly state-run ones, get there by toeing the party line and ars creeping and not by being particularly brilliant! SS

To: Enigma who wrote (6756)	7/7/1999 12:23:00 PM
From: banco$	Respond to of 81972

Always two sides to the coin. One can view the market as an assortment of participants individually doing what happens to work for them, be it CBs picking up pennies while contributing to global instability or speculators obtaining nearly free access to capital then leveraging it. Others (legitimately) view the collective whole with the thought that players are mutually aware of all participant's roles. CB actions and institutional investments are supposed to be conducted by professionals with the expectation they are well aware of what the other guy/gal is doing. CBs are losing a portion of their asset value by loaning or divesting bullion reserves, however, they overlook the losses in hope that their fiat and government debt make the grade while using one another as an excuse for their wasteful actions. Central banks are failing the goal of long-term stability for sake of short-term gains in doing so. They have become speculators rather than central bankers.