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

To: long-gone who wrote (15798)	8/12/1998 11:38:00 PM
From: Wizzer	Read Replies (2) \| Respond to of 116791

Better yet, how much gold would $1.25 Billion (current settlement from the Swiss Government) buy before the Swiss bank threatened to sell their gold reserves? I'm sure the settlement was based on the amount of gold taken and the future value of it, and since the POG is lower now, the Swiss Government pays less. These "events" took place shortly after the G7 summit in '97--the POG started to go into the toilet. I don't believe the experts explaining that it is the value of the $US dollar or short positions. The only explanation that made sense to me was GOVERNMENT POLICY to reduce the POG. I have said before that the threat of central banks selling gold was a "smoke screen". I am certain that we will find out soon that Central Banks were actually buying gold. This has got to be one of the largest efforts to reduce the price of gold I have heard of. It only created buying opportunities for governments and their banks to buy more gold, especially European central banks. Regards, Wisam