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

To: Alex who wrote (5560)	1/10/1998 2:15:00 PM
From: PaulM	Respond to of 116756

Alex, I'm surprised you haven't gotten comments on that one. Recall the article by Martin Armstrong in which estimates Japanese treasury holdings at $2 trillion, not $300 billion as in the link you provided. I suspected there was a rift after the Washington Post article about the U.S. refusing to devalue the dollar. After that, we saw the dollar quitely lose ground to the yen, suggesting to me that the Japanese may have made plans to go it alone. The following two days, we saw gold fall on the New York Comex quickly after being stable or showing strength elsewhere as a result of shorts by U.S. hedge funds. Like so many "unthinkable" scenarios, I suspect that a rise in the price of gold now could in and of itslef have major (undesirable) consequences for global markets. But the plunge protection team can't control everytting, much as they'd like to. Consider that at current prices, all the world's physical gold could be purchased for about a trillion $ U.S. Pocket change in the world of investment capital flow. Expect much volatility in the gold market. This year won't be for the faint of heart.