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

To: Crimson Ghost who wrote (37264)	7/17/1999 12:56:00 PM
From: Rarebird	Read Replies (1) \| Respond to of 116763

George: Yardeni's analysis of the impact of Y2K on the Stock Market and Society leads him to a deflationary position. Gold has always been a political metal, subject to manipulation by CB's and governments. Gold is primarily a Currency, not a Commodity. As a Currency, Gold is traded (and has its own lease or interest rate just like any other currency)and is manipulated just like the Yen, Dollar, Euro; etc. Sometimes these manipulations bring about the desired effect; other times they back fire. The Question here that very few people want to confront is why has the manipulation been so successful up to this point? In the 1970's, the CB's and IMF sold Gold and it still soared! What is the difference this time around? I'm well aware of the Gold Carry Trade; but that has long term bullish implications: All these loans must be paid back eventually in Gold. Once the price rises there will be a sharp drop in new leasing, since the risk in a gold loan is having to repay in a higher price. The Yen carry trade was quite popular before it abruptly ended. The same thing will happen to the Gold Carry Trade. What is taking place in regard to the POG is a lot more complex than an act of simple manipulation.