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

To: long-gone who wrote (63392)	2/5/2001 10:45:32 PM
From: Crimson Ghost	Read Replies (3) \| Respond to of 116753

I have little doubt that gold is manipulated, but think GATA is focusing on the wrong target. The real problem is not so much the bullion banks, but CB leasing of gold at absurdly low rates. As long as gold can be borrowed at 1% -- who can blame the bullion banks for borrowing gold, selling it and investing the proceeds elsewhere. Especially when Greenspan has promised that the CBs will move heaven and earth to bail out the shorts should they get into serious trouble. And guess where most of the cheap leased gold is coming. Not the US, but Europe. Now if GATA could persuade South Africa to pressure the Europeans to sharply reduce gold leasing -- it may finally get somewhere. But as long as the CBs are willing to lend at 1% -- a sharp and sustained gold rally is extremely improbable -- to put it mildly.. And the bullion banks will keep laughing all the way to the bank so to speak.