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

To: d:oug who wrote (51246)	4/9/2000 4:23:00 AM
From: d:oug	Respond to of 116753

Reginald Howe of GoldenSextant says "Be afraid, be very afraid." No, not you gold bugs and gata nuts, but the others who have been causing you years of constipation, hair lost, insomnia and all those unexplained unearthly type hallucinations. The article mentioned in my prior post, "The ESF and Gold: Past as Prologue?" by Reginald Howe of the GoldenSextant has contained in its last two paragraphs that which to me I see as either the prognosis of a diseased gold market or a prognostic of whats to happen to the diseased gold market. Note: ESF = Exchange Stabilization Fund "The ESF and Gold: Past as Prologue?" Reginald Howe, GoldenSextant [Start.] "The monetary provisions of the Constitution grant to Congress sole and exclusive power to determine the gold value of the dollar. The Supreme Court, to its everlasting shame, has refused to decide whether Congress may constitutionally sever any meaningful link between the dollar and gold or silver. But if there is to be a link, the Constitution vests in Congress exclusive power to define it. Were I counsel to a bullion bank, my advice would be to avoid like the plague involvement, or even suspicion of involvement, in any ESF scheme to affect gold prices. Activities of this sort could potentially violate a wide array of federal and state statutes, many of which also confer rights of private action on injured parties. Indeed, the blatant unconstitutionality of any such scheme could well deprive participating government officials of a range of defenses ordinarily available when they perform authorized duties in good faith. But many defenses available to the government or its officials would not be available to the bullion banks. In short, if the scheme blew up, their financial exposure could be enormous." [End.] Doug