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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: regli who wrote (91390)	2/7/2008 8:41:36 PM
From: bart13	Read Replies (1) \| Respond to of 110194

Indeed, and good point too. Gold sales by the central banks has been continuous since before the bull started. Recall too (and I wish I had a link - it may just be an urban legend) that Volcker said that he made a mistake in not paying enough attention to gold prices. I attribute the lower price of today (when compared to that '70s chart) partially to the central bank selling. The ECB for example had about 12,500 tonnes in 2000, and the recent average is under 11,000 tonnes.