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Pastimes : MANIPULATION IS RAMPANT --- Can We Stop It? -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (456)	6/24/2002 2:37:11 AM
From: Raymond Duray	Respond to of 589

Hi Dave, I keep an eye on gold. The purported "manipulation" that the articles speculate about aren't exactly on the mark. While the Globe & Mail article suggests that the central bankers are colluding to keep the price down, this is not actually the case. When gold sales from various central banks caused a precipitous drop in the price of gold in 1997, the banks began to racket back sales. What the banks are hoping for is first of all, price stability, and with that achieved, the orderly disposal of gold bullion, which central bankers have come to view as largely an archaic relic from the banking system of old. With most of the world's money now stored as "0"s and "1"s, those seeking to hold physical gold are a fine bunch of luddites, in the eyes of the world's central bankers. -Ray