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

To: Richnorth who wrote (43150)	10/17/1999 12:39:00 PM
From: Hawkmoon	Read Replies (4) \| Respond to of 116764

Hmmm...... How do I feel about it the POG manipulation?? Well, manipulation comes in many forms. Markets are skewed and distorted when monopoly control over a commodity are permitted to affect its market price. The CB's hold monopoly control over the POG, essentially subsidizing it and distorting the price. The only reason the price of gold is where it is now is due solely to the actions of the European Central Banks in launching an attack on the US currency and perceived marketbubble, using the POG as its weapon. So you can thank those very same institutions who the goldbugs have grown to loath, the European Central Banks. But the only reason to thank them is solely because their interests dovetailed temporarily with the interests of the goldbugs. What will happen when those interests begin to once again diverge? Will you once again rely upon the "manipulation" cliche when having a high price of gold no longer suits their purpose? (and it will, since weakening the US dollar will drastically impact their own economies and export balances while US productivity gains will likely continue). Regards, Ron