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

To: philv who wrote (3166)	11/15/1997 2:17:00 AM
From: John Barendrecht	Read Replies (1) \| Respond to of 116830

Phil, I am still trying to figure it out. Canada has been selling gold for quite a few years, sell little at a time and has about 3 million oz. left, I believe. The Netherlands sold in 1993, I was on a business trip there about this time, and everyone seemed to think they were in dire straits. Government cut backs, decreasing payments to seniors, co-payment for medicare, etc. So, I assume they were just trying to raise cash to keep the system going. They had (have?) high unemployment at that time. I doubt if the Swiss people will ever vote for sale of any gold (other than the Nazi stuff). Germany - not a bad idea to lease your gold at 2% for monthly lease rates. Better than a lot of gov't bonds. One thing is for certain, if the leases are as large as they claim and this gold has been used to make jewelry or industrial use, and it has to be repaid, there will be a lot less physical gold to replace it. With all the mine closures and delayed construction, where are all these people going to get the gold to replace the leased stuff? Brokers are not disinterested, they make money buying AND selling. Doesn't matter if it goes up or down. I suspect that the US gov't is hoping Japan will sell gold and not treasuries to raise cash. What do you think is going on?