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To: Wizzer who wrote (14620)	7/18/1998 8:00:00 AM
From: lorne	Read Replies (2) \| Respond to of 116762

Hello Wisam. >>Perhaps, financially challenged countries are currently purchasing cheap gold to support their suffering currencies,<< Question-- Wouldn't the pog have gone up in these countries in terms of their currencies so gold may not be cheap for them, wouldn't they have to purchase gold with $US reserves. Lorne

To: Wizzer who wrote (14620)	7/18/1998 8:47:00 PM
From: long-gone	Read Replies (1) \| Respond to of 116762

Wisam. thanks for the input.POG is just jumping to much to not have something going on. You know, if the US wanted to "help" the IMF, the would simply buy gold on the open matket, thus increasing the value of any gold the IMF wishes to sell, this would also (in the short term only) reduce the value of the US dollar, and make our export products less expensive. In the(very slightly) longer term, it would turn around when the world once again comes to its senses and understands the value of gold, and I think that would not be far off IMHO. rh

To: Wizzer who wrote (14620)	7/20/1998 2:04:00 PM
From: Richnorth	Respond to of 116762

Yes, indeed! What you wrote makes a lot of sense, and it bears mentioning again even though the same theme had been explored in the past, elsewhere, on SI. There is no doubt whatsoever that the POG is being manipulated repeatedly to enable the fulfillment of certain political-economic agenda of western governments. A case in point is that gold has to be made to look unattractive in order to ensure the success of the Euro. You see, money has to be channeled to where it would help certain matters. As to the Swiss declaring they would want to sell about half their gold, I don't think they are serious. It's all talk, talk and talk calculated to bring down the pog while at the same time they may be making backdoor purchases of gold themselves. It may also have something to do with the Holocaust survivors' claims against the Swiss Government and the Swiss' desire to be seen as doing a political favor to the EU community???????????? Apparently, in dollar terms, the Swiss want to pay less for the bullion of the Holocaust claimants. Apparently, they are killing three birds with one stone, so to speak. According to one market newsletter writer regarding the Swiss sale: "The sale isn't proposed to take place until 1999, and it won't take place unless approved by a referendum of the Swiss people. The people on the committee are undoubtedly typical of what you find in such position around the world: small-minded bureacrats who got jobs with the treasury instead of the Post Office mainly because they were smart enough to figure it was more fun playing with other people's money than delivering mail, but not smart enough to get a real job in business. One reason I think the sale will be voted down in referendum is what they propose to do with about 40% of the proceeds. These folks want to take roughly $5 billion and endow a foundation to distribute money to the Third World, an idea so wacky I coudn't quite believe it when I read it." And he went on to say, "What do sellers get for their gold? US dollars. It makes no sense for any country to hold reserves in an unbacked currency issuewd by a declining power, but this is the type of thing that people do at the bottom of a long bear market. My gut feeling is that the Swiss, in a veritable Et tu, Brute! move, have put in the final bottom on the market. Only time will tell, but I continue to buy gold coiuns at every opportunity."

To: Wizzer who wrote (14620)	7/20/1998 2:17:00 PM
From: Richnorth	Read Replies (2) \| Respond to of 116762

Oops! I forgot to mention one more thing: At the mining conference held in Vancouver in late January this year, Jim Dines (Dines Newsletter) said that the Canadian Loonie was weak because Canada has essentially sold off most, if not all, of its gold. He also predicted lately that the loonie would sink lower and lower to about 50 cents US if the Canadian Government continues to think it's great for the loonie to go lower from present levels. He thinks that the loonie will be the first "peso" of the north.