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

To: Bill Murphy who wrote (36930)	7/10/1999 2:27:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 116764

You know life is short. I love life and and have had the opportunity to me some of the most fascinating and genuine people that anyone could ever meet. Bill, The issue was not about whether you love life or not, but more about who's footing the bill and the accountability mechanism you've implemented for GATA donors. That, I beleive, was also Ole 49r's concern (and she also apparently loves both life and gold). What we are trying to do is change a very big wrong. Depends on what is perceived as the greater wrong. Imo, the greater wrong has been dedicating so much time and effort to trying to maintain the illusion that gold should back currency. This has resulted in an effective gov't subsidy upon which the gold industry has enjoyed extremely elevated prices for over 10 years. And depending on a person's perspective, all you want is to further that subsidy by forcing CBs to hold an asset they cannot utilize. You don't want them to lease it. You don't want to to sell it. All you want is for them to collect more of it so you and the gold industry can reap major profits from it. Be careful what you ask for Bill. As I stated before, for gold to shine, you must have a global financial crisis. If one occurs you could easily see many of these major gold companies nationalized like the oil companies were by the Arabs in the 50's and 60's. Do you really think that if such an "asset", resumes a previous historically strategic value, that the gov't authorities will leave it in the hands of private industry?? Fat chance. The better bet is to let gold fall, let the CBs sell it off to their hearts content where it will eventually migrate into the hands of those who want it for jewelry or as an "apocalypse" fund. Private individuals should relish the opportunity to buy their gold at reduced prices. Then the small fry will have the advantage over the big money boys. Regards, Ron

To: Bill Murphy who wrote (36930)	7/10/1999 4:49:00 PM
From: Crimson Ghost	Read Replies (2) \| Respond to of 116764

Bill: Want to encourage you to keep up the good fight. An unnamed analyst (probably Andy Smith) was quoted as saying it would be the worst day in gold's history if the IMF cannot sell. Why? because the gold might then be given back to the donor countries who would sell it all. Sounds like the shorts are getting nervous. Real nervous. Of course anything could happen in this most heavily manipulated market. But the oil consensus was just as bearish a few months ago as the gold consensus is today. I do not agree with you that the equilibrium gold price would be anywhere near $475 in a free market (not with the CRB still well south of 200). But I do think it would be considerably north of $300 and possibly as high as $350. Perhaps GATA could taske the offensive on leasing as well as gold sales. Why should the CBs lease gold to speculators at absurdly low interest rates when this serves to further devalue their holdings? The idea of charging these speculators reasonable interest rates (say 5%) would garner a lot of support in the court of public opinion. And it would probably do more to help the gold price than the cancellation of IMF sales.