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

To: Enigma who wrote (7611)	9/2/1999 8:38:00 PM
From: russet	Respond to of 81259

I agree that leased gold may well have caused a lot of the drop in the POG. The finance people at Barrick may well have recognized that this might happen many years ago. Other big miners, Newmont and Homestake, may have refused to participate because they may have suspected the POG would drop if they all did it. That may have resulted in the CB's lowering lease rates to get more participants to lease their gold. Hence the situation we find ourselves in now. The Hunt brothers must have had similar thoughts to the managers of those CB's now, as they too built up a huge reserve of a metal(silver) to corner the market, only to have their asset dwindle in value as everyone realized they would have to sell it off. Little difficult to sell off that CB gold now, and not depress the POG. A good marketing firm should have been used to try and increase demand. A good firm probably would have made everyone involved a lot more money by coming up with all sorts of innovative new collectibles and uses for our beloved yellow metal. Alas, they let bankers and accountants handle it. ;-)))