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

To: long-gone who wrote (44597)	11/5/1999 9:17:00 AM
From: tyc:>	Read Replies (2) \| Respond to of 116811

<FREE MARKET!. OPEN MARKET!. FULL KNOWLEDGE TO ALL OF EXACTLY WHAT IS GOING ON WITH EVERY MAJOR PUBLIC GOLD STORE!. > Hear ! Hear! I couldn't agree with you more ! I joined this thread to learn what was going on, only to find that everyone is as confused as I am. Intelligent people come to diametrically opposed opinions on today's gold situation, because they don't have proper information. No wonder conspiracy theories abound. .. WHY do the central banks lend their gold ? What are their objectives ? .. Is there any control on what the borrowers may do with the borrowed gold ? Are they restricted to purposes consistent with the central banks objectives ? .. How much gold have Central banks loaned ? .. Are their loans for a specific period of time ? Are the borrowers assured that the term of the loan will be renewable ? .. Who are the borrowers ? .. How is the gold lease rate established ? Is there so much gold clamouring to be leased, and so few qualified borrowers, that the market will not yield a rate higher that about 2%? Or is this rate set so low just as a "handout" to the chosen few ? .. What collateral safeguards are required ? Why should we have to GUESS at the answers ? It is not just Public accounts that need to be transparent. I seem to detect a certain glee in mining companies' annual reports as they boast that their forward sales have yielded prices so far above the current spot market price. I have yet to see an annual report that says; "We CAUSED our bankers to borrow gold from the central bank and TO SELL it on the spot market on our behalf." One heavy hedger even blamed "hedge funds" for the decline of the market price ! Another chief executive blamed "speculative short selling"; as if short selling should be the prerogative of the producers !