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

To: Ken Benes who wrote (57887)	9/5/2000 3:28:19 PM
From: Crimson Ghost	Respond to of 116759

Ken: The gold miners (really the shareholders) are indeed being played for fools. Still, the fundamental reason for the gold bear is not CB games, but the lengthy bull market in the dollar. Ultra cheap CB gold loans have made a bad situation much worse though. BTW, have you noticed the contradictions in CB propaganda? They say again and again, that they lease gold to earn a return from a stale asset. But Greenspan has said the CBs will add to the supply of leased gold if the POG rises (presumably beyond a certain target).So if Greenspan knows what he is talking a key motive of CB leasing is to depress the price. The idea that the CBs are leasing gold mainly for the tiny returns they receive is ludicrous.

To: Ken Benes who wrote (57887)	9/5/2000 4:26:08 PM
From: goldsheet	Read Replies (3) \| Respond to of 116759

I found her last comment the most interesting/important: "Ms Cross suggests this has "more than likely delayed mine closures, probably delayed mergers and the restructuring of the industry and . . . encouraged expansion of the reserve base". The gold industry has to consolidate like the other metals (aluminum, copper, nickel, etc..) The top 5 gold miners should be producing at least 50% of world production instead about 25% (22moz out of 82moz), then they could/should do some of the restucturing you have previously suggested.