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

To: lorne who wrote (38092)	7/31/1999 11:55:00 AM
From: Crimson Ghost	Respond to of 116764

Thanks for that Erdman piece! But the really big short sellers are the bullion banks, not the mines. What the miners need to do is slash actual physical output in a big way a la OPEC. Probably would have to be some mergers to create entities financially strong enough to do this. BTW, I have seen articles predicting just such a merger wave. I suspect that is the main reason mining stocks have held up so much better than bullion.

To: lorne who wrote (38092)	8/1/1999 10:32:00 AM
From: Ken Benes	Read Replies (1) \| Respond to of 116764

Lorne: I was thinking the other day, how the gold producers would short circuit another rally in the gold market. How and when is the only question, the results will be the same, a lagging gold price in a climate when most other commodities climb. It is so obvious, the only ones who do not see it are GATA and most members of the board. GATA thinks that their expose on the manipulation of the gold market, will end the speculation, and the price of gold will return to an equilibrium price, and members of this board think for the most part that any prudent business plan is tantamount to a cartel undermining the principles of a free market economy. When their beloved metal crashes, they return to headline hunting scowering the front pages for any little tid bit of gloom and doom that might trigger the flight to gold. The ones that are profiting are the speculators, who fortified by cb lending and the producers acting as their retail arm, cannot lose. So what else is new. Unfortunately, nothing is going to change, the news vigilantes will continue their fruitless vigil, and the producers will continue to whine, and the speculators will offer their daily thanksgiving that how wonderful it is too operate in an environment with wall to wall fools. Ken