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

To: Crimson Ghost who wrote (63849)	2/16/2001 1:45:53 PM
From: sea_urchin	Read Replies (1) \| Respond to of 116759

Hi George. I haven't spoken to you for quite a while. I trust everything is OK in your neck of the woods. Re "So if GATA can garner substantial support from South Africa and the Black comunity in the US -- more power to them". I agree with you. In fact, I would go so far as saying that Bill Murphy stumbled upon the political ramifications for South Africa of the low gold price by accident. He came here looking for a buck --- and stumbled on a gold-mine! However, now that the realization has taken place that the profit making attempts of the CBs and other financial institutions has caused a major economic backlash in the developing world, attempts will surely be made to stop or control it. It can easily be shown that the unregulated sale of gold reserves by the CBs and the consequent fall in POG has major ethical implications. It's also my view that the big miners are in cahoots with the CB selling, not for the same reasons as GATA would have one believe ie a major conspiracy, but to corner all gold production by driving out the small and marginal producers. For this, it is necessary to push down POG to the level where only few large producers can survive. Then, the real gold cartel can begin. And then, they will be in a position to push up prices like was done with diamonds, oil etc. Accordingly, the political implications of the low gold price, which Bill Murphy has stumbled on, may just have been revealed a bit prematurely. I have no doubt that, if anyone, Anglo has know about the politics of a low gold price for years already and was waiting for the right moment to start its own campaign. That right moment, I conjecture, was when they and their pals had cornered most of the gold production and are in a position to establish a cartel. That's why it is necessary to gobble up Goldfields ASAP. In due course, the wider financial implications of Anglo/Oppenheimer taking over DeBeers will also become apparent.