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

To: Winzer who wrote (42522)	10/9/1999 9:34:00 AM
From: Bill Jackson	Read Replies (1) \| Respond to of 116762

Winzer, The cessation of CB sales may have been a result of the GATA actions?, who knows. It is no secret that many countries have had mines close down. This has impacted the third world countries the most as their mines were often their leading(only?) dollar source. It made little sense to crash gold by selling CB reserves when the damage done to the third world countries exceeded the money raised by the sales. Better to keep it higher and those same countries will generate their onw $. Most third world countries have troubles because of crooked and corrupt governments who take the $$ given and swiss bank them or make them into tanks and planes to keep their group in power. We in the first world have equivalent mechanisms that use fewer tanks but have the same effect. Lobby groups, PACs, hidden bribes to politicians etc. A stable $350 will make many closed Canadian mines stay open. Too bad this happened too late to save Royal Oak. Bill