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Gold/Mining/Energy : GMD RESOURCE -- Ignore unavailable to you. Want to Upgrade?

To: Richnorth who wrote (451)	11/25/1997 9:19:00 AM
From: Dave R. Webb	Read Replies (1) \| Respond to of 1030

I've seen many numbers about total gold reserves in Central Banks, and what this overhang means to the market. I wonder if these numbers exclude the amount of gold lent to bullion dealers for forward sales, gold loans, or short sales. Some figures suggest that the central bankers are increasingly turning to lend their gold in order to earn revenue. It seams to me that the central bankers have succeeded in inflating the gold supply by doing what they always do....print more than what they have. Unfortunately for them, should there be a "run on the bank" so to speak, they'll have to come up with the goods. Dave