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

To: d:oug who wrote (69107)	5/13/2001 7:22:36 AM
From: Zardoz	Read Replies (2) \| Respond to of 116764

For a thief and a crook an end "to be gained" justifies any means.eom And your last quote just summed up GATA. They are attempting to change the past for their own begotten good. Semantics is a fun game if you know how to play. Hutch

To: d:oug who wrote (69107)	5/13/2001 1:32:04 PM
From: E. Charters	Read Replies (1) \| Respond to of 116764

It seems evident that the G7 countries have been talked into dumping their Gold reserves by socialist economists. Britain is on the way to selling its pitiful swag and Canada has only 34 tonnes left! Russia stopped producing gold and closed most of its mines some time ago in the 90's, allegedly because of lack of money to operate. But if they could get money for their gold they would be mining like mad as they have about 40 or more mothballed mines. So we have to see that Russia knew the plot to discredit gold long ago and must have stopped many of its operations as they knew they could no longer sell it, like Russian Sable. Since Canada has an almost equal number of closed producers that are far from exhausted it makes you wonder what countries are producing that much more gold that we are in an oversupply condition from production. South Africa produces about half what it used to and Canada is down in production from the past (158 tonnes). Brazil is off from the 80's too. Australia is a bit better than it used to be (300 tonnes). The US is up to about triple what it was but that is not that many tons. (341 or so) The finger points to Canadian and European money in Africa, Pac Rim and South America. But sales are far more than production! You would think the price would climb! We produce about 2500 tons per year worldwide but we sell more than that. So yes there is a plot to divest gold and reduce its effect on money. A silly idiot plot because if gold had value why sell it? It is a silly exchange for paper. Why would a country want its paper in return for anything from road apples to road metal to the metal of Rhodes? You don't print paper to get it back. You print it to do work in circulation. The Swiss have been pressured into selling much of their gold to pay ancient War reparations. We don't know what this overhang is but it may be between 2000 and 5000 tons. This may be a source of some of the downward pressure on gold as if the Swiss have to sell or buy gold to pay the reparations (they may have made the deal in ounces) their recipients would want the price low. Basically many of their recipients buy the gold the Swiss sell to pay their debt! EC<:-}