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

To: Enigma who wrote (57460)	8/20/2000 11:41:34 PM
From: Ken Benes	Read Replies (1) \| Respond to of 116762

A few remarks on some of your dribblish points. 1. Eliminating hedges and exposing the company to the vicissitudes of the market would be preferential to employing hedging techniques that have in fact driven the price of gold to artificial lows. Current prices are not reflective of an equilibrium price of gold, rather, they are indicative of an artificial price level supported by the introduction of excessive amounts of leased cb gold into the market. 2. Closing down unprofitable mines does not automatically result in the loss of employment for the companies geologists. Rather, it could result in the termination of the services of many of the dig we must crowd, hopefully the higher level managers. 3. You could not have said it better, the producers have sold their independence to the bankers for a few pieces of silver. The bankers are more than willing to support the development of new mines financed by cheap loans from the cb's for leased gold. The bankers, thru their restrictive financing packages to the producers, could not have been more effective in creating a supportive environment for those short gold, those who had a vested interest in a range bound pog, and those who wanted to attenuate the producers ability to effect the supply of gold to the companies benefit. Triple D you could have not have been more succinct on that point. Ken