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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (43695)	12/31/2005 1:25:41 PM
From: regli	Read Replies (1) \| Respond to of 116555

Yes, I expect gold sales from FCBs to slow. You may have seen the article I posted from the Scotsman. Message 22013966 With the positive news about gold, there are now much bigger questions as to its value and if one were to sell then at what price? These gold sales then become much bigger political hot potatoes and fewer want to touch them and subject themselves to ridicule like Brown and several politicians in Switzerland. However, there is less of an excuse in Switzerland as the final decision was made by the people through a referendum. I am sure that it wouldn't pass today! ... "In due course, Brown sold off 300 tonnes at just $275 an ounce - close to a 20-year low. Roughly a third of the proceeds were then invested in euros - which then proceeded to plummet. The gold price did not do much for a time. Now it has enjoyed a stunning rally. The result is a stonking loss on those Gordon Brown gold sales. In fact, the Chancellor's disastrous foray into international asset management now looks to have cost the British people some £2 billion." ...