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To: maceng2 who wrote (39865)	11/21/2000 8:23:33 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

since you mention it, i am CONVINCED it will in hindsight be identified as THE buy signal. well, maybe not CONVINCED, but convinced at the very least...:) the BoE has in fact a long standing history of doing the wrong thing at exactly the wrong moment, and that goes ESPECIALLY for their gold sales (i won't even mention their throwing an ineffectual $30 bn. at the pound in '92 to save it, only to see it crumble and plunge out of the ERM a week later .. oops, i just did...-g-). guess when their last BIG sale of altogether 1300 tons took place? and at what price? that's right, in the three years leading up to the fall of Bretton Woods, and they sold it all at $42/oz., only to see it run to $850 in the years following their sale. there's a certain odor attached to this latest selling bout too...not least because when a confirmed socialist statist like Brown decides to sell his people's gold without even asking them, well...it's like Lenin grabbing your Maples while you're asleep. the entire charade that the incestuous gold market has become was kind of crowned by the BoE of all places to decide to sell again..and again at multi year lows. if not for the fact that they helped to almost kill an entire industry while robbing their country of the meager remains of its hard asset currency backing it would be really funny.