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To: ild who wrote (90862)	4/6/2001 12:38:50 PM
From: yard_man	Respond to of 436258

very weak seems a like a little bit of an overstatement ... gold looks like it wants to ramp ...

To: ild who wrote (90862)	4/6/2001 1:17:34 PM
From: pater tenebrarum	Respond to of 436258

what do you mean? it's down 1/32...that's 'very weak' ? re. gold, lease rates have been firming again overnight...did you see the rumor i posted about yesterday? in case you haven't, the rumor is that the Bank of Lebanon was approached by the BoE about lending 185 tons of its reserves, and reportedly has refused to do so. of course, as is always the case with gold related rumors, it's impossible to confirm whether it's true or not. but it would fit neatly with what has happened lately, and i heard already a month ago that the BoL's 300 tons of reserves were in the sights of the leasing scamsters. after all, that's their new specialty...getting hold of the gold of peripheral CBs. since late '99, Kuwait, Jordan, Uruguay, Chile, Sri Lanka, and Bangladesh were relieved of their gold. btw, i believe the Reserve Bank of Australia is a good example for the state of gold reserves in most of the Western world: of their remaining 79 tons of reserves, 76 have been lent out. their vault has a piece of paper sitting in it. oh, and since they conducted their sales, the Ozzie peso has collapsed from 80 cents to the dollar to well below 50 cents, and had they sold today, they would have gotten 500 million Oz pesos MORE for their gold, and they wouldn't have lost the 300 million they have lost by buying Euros either. goes to show that CBs are excellent contrary indicators...they have after all bureaucrats at their helm...