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

To: Square_Dealings who wrote (72950)	7/6/2001 1:48:38 PM
From: marek_wojna	Read Replies (3) \| Respond to of 116752

Micheal, this is how derivatives works. Bank has as an example 1000oz. of gold. Now they write 100000oz of certificates collecting and using the money equal to 100000oz, knowing that people trust the certificate and the chance is slim they will demand all at the same time. If they do bank will say simple "NO" and offer them cash, if ever. If an individual tried the same trick he is going to jail. This is most simple form of derivative. Should ask Hutch for all possible tricks public is not even aware of.

To: Square_Dealings who wrote (72950)	7/6/2001 11:11:11 PM
From: lorne	Read Replies (2) \| Respond to of 116752

Hi Michael. <In your opinion who do you feel is trying to keep the price of gold down??> >>> The institutions that have sold gold short to raise funds for other purposes.<<< Over the last 4 years on this and other threads I have read many different news articles and personal opinions on the gold market and IMO the world gold council should be added to the list of those keeping the POG down. I have seen recent articles where the world gold council is in the process of spending millions promoting gold world wide not as money or a reserve asset for banks but as trinkets and jewelry. I just think this is part of the final drive to demonetize gold and what central bankers have been trying to do for years. I also feel that large mining interests who have years of gold production sold forward are part of this drive to demonetize gold. If the worlds largest gold mining interest is selling gold cheaper than any of their competitors why would any one look to buy gold at a higher price. I don't hold shares in any of the big producers never have and likely never will so I have no bias. I believe the expansion of Barrick is bad news for gold price. The world can absorb a lot of cheap gold and bankers know this so all that is needed is to have the worlds largest producer selling cheap and from what I have seen in the past few years demand increases as the price drops so a good profit can still be made with higher volumes. And of course low gold is good for the US$ and inflation and if gold is only used for trinkets there is no safe haven. And not for one moment do I believe that G Bush and B Mulruiney do not have a special role to play as directors for ABX. Just my opinions. Lorne