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To: Box-By-The-Riviera™ who wrote (225649)	3/5/2003 1:11:04 PM
From: Lucretius	Read Replies (2) \| Respond to of 436258

they're smart -g-

To: Box-By-The-Riviera™ who wrote (225649)	3/5/2003 1:22:18 PM
From: Horgad	Read Replies (1) \| Respond to of 436258

Is that good news or bad news? Yes it sucks that CBs are still selling gold, but maybe they are almost out. Canada is down to 2.4% of the gold that it held in 1980. Finance ministry figures released on Wednesday showed that the government sold 90,588 ounces of gold in February, leaving its holdings at slightly above 500,000 ounces. That is down from about 21 million ounces in 1980 before Canada's gold sales started.

To: Box-By-The-Riviera™ who wrote (225649)	3/5/2003 2:14:49 PM
From: Israel	Read Replies (1) \| Respond to of 436258

more good news for goldbugs.. Central banks selling gold right and left.. and POG is still trending up and only down $30 or so from its high.. Israel

To: Box-By-The-Riviera™ who wrote (225649)	3/5/2003 2:36:58 PM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 436258

Trotsky weighs in on the Canuckistan gold sale (about what you'd expect): Date: Wed Mar 05 2003 13:57 trotsky (@Canada & gold) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved it is very fortunate that these morons ( sorry ) are down to only 500K oz. - they have ceased to be a factor in the market. it is not so fortunate for Canada herself and the Canadian citizens - should a situation come about in which the 'money of last resort' is needed to buy essentials, the bare cupboards of the Canadian CB will prove what a huge liability they are. imho it is simply mindboggingly crazy for a Central Bank to remove the bedrock of gold from its reserves in search for 'higher returns'. a Central Bank is not an investment club, nor is it a mutual fund. its role is to protect the internal and external value of the currency it is issuing, not 'making a return'. it also has a role as the 'lender of last resort' in extremis. it can fulfill this role w.r.t. the banking system via its printing press as long as the global fiat experiment hasn't collapsed yet, but should it be called upon to help the government in a fix created by e.g. war, it can stick all that paper where the sun don't shine. as Greenspan has once remarked ( not verbatim ) : "Germany would have been cut off completely from international trade during WW2 if it hadn't had any gold...we shouldn't sell ours, since you never know when you'll need it. it is always accepted as a means of payment around the world, no matter what happens." but i'm sure the monetary bureaucrats of Canada know so much better...their crystal ball has revealed to them that there never will be such a situation again...just as everybody knew in early 2000 that there would never be a bear market or a recession again, since the "Fed doesn't want that" ( according to Mr. Rudi Dornbusch , "economist" from MIT ) .