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

To: long-gone who wrote (57160)	8/9/2000 3:10:25 PM
From: Alex	Respond to of 116995

OT. Greenspan, The Man Behind the Money............. freehosting2.at.webjump.com

To: long-gone who wrote (57160)	8/9/2000 4:48:25 PM
From: Fun-da-Mental#1	Read Replies (1) \| Respond to of 116995

XAU vs VIX: finance.yahoo.com IMO the correlation is significant and shows that gold still has safe-haven value. -Fun-da-Mental

To: long-gone who wrote (57160)	8/9/2000 6:05:18 PM
From: d:oug	Read Replies (2) \| Respond to of 116995

Warning: On-Topic ONLY for eXtremist Gold Bugs, a.k.a gata nuts yes, its a very pro-GATA article yes, nothing new here yes, just another resuscitation attempt for a belly up gold yes, if you is not a gata nut, then yes, you should not still be reading this post, unless yes, you are new to this thread so Ron Reece, WHY are you still reading ??????? Current Stories Fool's gold How I bought into a sucker's scheme. By Barrie Walsh 08/09/00 Copyright © 2000 Salon.com Salon, 22 4th Street, 16th Floor, San Francisco, CA 94103 Telephone 415 645-9200 \| Fax 415 645-9204 salon.com Fool's gold How I bought into a sucker's scheme. By Barrie Walsh Aug. 9, 2000 I blame some of it on myself. But I blame the rest of it on the government. Inflation has arrived, but no one will admit it..... This is why I continue to lose money..... So what went wrong? The Gold Anti-Trust Action (GATA), a lobbying group in Dallas, believes the gold market is being manipulated. I do, too. When I first started looking into the matter in February, I wasn't convinced; today, something suspicious indeed seems to be going on. GATA chairman Bill Murphy, who's worked in the gold industry for 30 years, says the U.S. government is conspiring with the Exchange Stabilization Fund and some bullion banks to hold down the price of gold for political and financial gain..... Murphy's evidence: record gold demand and rising inflation. ... refusal to acknowledge inflation to the coming election..... Commodity prices and wages are rising. With demand so much greater than supply, the price of gold should be rising. So how is this alleged manipulation being carried out? GATA describes the process like this: The world's central banks have large reserves of gold, which are loaned to bullion banks, and which, in turn, are sold to jewelry makers and others..... ... there is growing oncern about the large amount of outstanding gold loans. GATA says a financial crisis could occur if investors start buying lots of gold. Heavy buying would spike the price of gold and bullion banks would be forced to quickly buy back the gold they have borrowed at a much higher price ... bullion banks would lose a lot of money. Gold now sells at about $281 an ounce. Veneroso believes the price would be closer to $600 if the manipulation of the gold market stops. GATA has met with Speaker of the House Denny Hastert, R-Ill., and handed out a 100-page document called "Gold Derivative Banking Crisis," detailing the alleged manipulation to the Senate Banking Committee. Since then, the Senate subcommittee on Technology, Terrorism and Government Information has requested copies of the document, and GATA has asked for a full investigation..... If this story is true, then I have bought into a rigged market..... For now, I'll hold on. I think inflation is very much alive, if not accurately reported. The stock market's volatility is a big concern; I am worried about the U.S dollar bubble. If things go sour, gold could go to $600. It all comes down to patience. For now, I'll keep..... salon.com \| Aug. 9, 2000 About the writer Barrie Walsh is a Canadian school teacher. Current Stories Fool's gold How I bought into a sucker's scheme. By Barrie Walsh [ 08/09/00 ] Copyright © 2000 Salon.com Salon, 22 4th Street, 16th Floor, San Francisco, CA 94103 Telephone 415 645-9200 \| Fax 415 645-9204