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

To: Enigma who wrote (57796)	9/1/2000 10:20:50 AM
From: William JH	Read Replies (1) \| Respond to of 116814

What do you think gold miners should do? It doesn't appear that the status quo is helping investors any. I guess everything is OK if you are on the ABX payroll.

To: Enigma who wrote (57796)	9/1/2000 3:34:58 PM
From: Ken Benes	Read Replies (2) \| Respond to of 116814

The supply of diamonds can be controlled because of the presence of Debeers. Oil has a cartel and can regulate production, farmers can limit the amount of crops they grow by regulating planting, copper producers regularly close or reduce production depending on the fundamentals of their market. All commodity based businesses have a degree of control over the supply and demand fundamentals of their business with the exception of the gold producers, because, according to you the nature of their business is unique. And you are right, the central bankers offer them leased gold at ridiculous rates of interest, and the bullion bankers demand that they except the terms and sell forward or the rating agencies will downgrade the debt of the producers. It seems like the producers have mortgaged their business to the central bankers and the bullion bankers and this situation is certainly unique among commodity based business. Investors understand the misplaced allegiance of the producers and continue to avoid the gold miners like they were the plaque. Triple D I believe you should limit your discussion to an analysis of statistical sampling day this coming November. Ken