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

To: long-gone who wrote (64213)	2/22/2001 9:54:21 PM
From: baystock	Respond to of 116753

Gold demand report has intriguing evidence for a rally m1.mny.co.za <<What is not getting much serious attention – outside of conspiracy circles – is the short position, said to exceed 10,000 tonnes (four years of production or one third of all official book holdings) that is irretrievable. The short position has built up as a result of central bank gold loans where the metal remains on the books but which has in reality been consumed and is not readily available to be returned. This has created an effective "double-claim" on every ounce lent. Where speculative derivatives are layered on top of this paper gold, the double claim can multiply logarithmically. This is the heart of the excess supply problem. >>