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Pastimes : Where to hide your money as the world banking system collaps -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (23)	1/10/2001 1:55:58 PM
From: Michael H	Read Replies (2) \| Respond to of 41

A couple of theories why the gold price is not moving up: (1) The central banks are manipulating the price. A rising price for gold would be interpreted as rising fears of inflation, something Alan Greenspan is not interested in. If the gold price is rising, they just dump the market with some gold out of their stock, or just borrow gold to the commercial banks. (2) There is another scam behind world wide gold prices, kind of shorting of gold: A couple of big banks are already big lenders of gold from their central banks. They are selling gold on the market a buy other investments, e.g. 30yr bonds. (That is what Auric is doing when he is shorting a stock - just the banks are not speaking about it like the Tin Man). This works as long the interest for lending gold is lower than interest earned on their investment and the gold price is not rising. Any upward movement of gold will be depressed from a cartel of commercial banks. Total short position in gold is estimated about 7000 metric tons worldwide. (3) Another theory says that a after couple of central banks decided to liquidate their gold reserves (gold backing of your currency is out of fashion for nearly 30 years), they are using every upward movement to sell some of their surplus. FWIW. Michael