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

To: Hawkmoon who wrote (43151)	10/17/1999 12:58:00 PM
From: Mark Bartlett	Read Replies (1) \| Respond to of 116764

Ron, <<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.>> Your comments about relying on the manipulation of the gold market, could apply to so many other markets, they are almost meaningless. The DOW "average" is being manipulated (via a few stocks) to give the appearance of a healthy market. That's a big part of the problem - the practice of economic deception has grown to an art and science, like no other period in history (thank the internet for that). So, here we are ...... the DOW being manipulated high (so all is well) and gold low (so all is well) ..... it's just a big scam, nothing more. Had these elements been allowed to seek their own levels, we likely would have a healthy 5500-6000 Dow and a healthy 400/oz price of gold. But no, greed and hubris (as is usual, historically) enters the equation, and we get these skewed conditions. AG did not do his job. The next while will be interesting. Best to you, MB

To: Hawkmoon who wrote (43151)	10/17/1999 1:06:00 PM
From: Bobby Yellin	Read Replies (1) \| Respond to of 116764

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). How will the weakening dollar impact their own economies? if euro starts strengthening and dollar weakens..won't that affect their economies adversely? and strengthen our exports? please elaborate --oops are you going to say that this way the euro will look a lot better than it is and have people gain more confidence? is it once again perception rather than fundamentals?

To: Hawkmoon who wrote (43151)	10/17/1999 1:30:00 PM
From: Richnorth	Read Replies (2) \| Respond to of 116764

Of course, for any one observation, there could be various possible interpretations. But ultimately, the interpretation that will be adopted will be the one that is consistent with all the facts. At the moment, existing evidence point to the gold bugs being right as having been victimized by the big hedge funds and the bullion banks, perhaps with the help of covert complicity of the Feds. CNBC commentators had often touted the line that inflation is non-existent and cited supporting evidence for this in the low POG. Most recently, however, someone from Merill Lynch said there is no connection between inflation and the POG! One can draw very interesting conclusions from all this, eh? I tend to agree with Mark Bartlett in that we all had been hoodwinked for quite a long time (until most recently) regarding 1) the phenomena of a steadily declining POG despite increasing consumption/demand for gold 2) the mirage of low or non-existent inflation. FWIW, I would like to remind astrology buffs that an eminent financial astrologer had stated in his July forecast that a massive fraud/deception was about to be exposed!!! Could the fraud/deception he was referring to is the same as the POG/inflation manipulation which some people opine is the scandal of the century???? Regards, Richnorth

To: Hawkmoon who wrote (43151)	10/17/1999 2:18:00 PM
From: Robert Dirks	Read Replies (1) \| Respond to of 116764

>>>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.<<< OK, lets rewind the tape a bit, to 1999/July. The only reason Gold went down to 253. is due to MASSIVE selling by hedge funds, shorters who nevert owned any Gold, and bullion banks who borrow Gold and buy bonds. IMO a fair equalibrium price is around $650.