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

To: Alex who wrote (26034)	1/12/1999 5:04:00 PM
From: Eashoa' M'sheekha	Respond to of 116779

Ooooo That Smell.You Got To Smell That Smell. (You are most correct Alex.Looks like Gold has been taken care of, for now at least.Maybe someday it will trade normally again,but for the past twelve months especially,it has pretty well defied all logic from an historical perspective.Time to call a spade a spade and maybe move on till the dust clears.The price is where it is supposed to be.You can't make money in a controlled market unless you deal in large volumes,like these fine institutions do.My hat is off,it is being held over my heart,as I officially declare.... ..........................GOLD IS DEAD!! May it rest in peace.I'm outa here.Good luck to all.) SEC fines brokerages $26 million for alleged price-fixing WASHINGTON (AP) — Federal regulators announced today they are fining 28 Wall Street brokerages more than $26 million for alleged price-rigging on the Nasdaq Stock Market, in an industrywide settlement closing a 5-year-old landmark case. The Securities and Exchange Commission has been negotiating the settlement for months. The agreement involves many of Wall Street's biggest names — including PaineWebber Group Inc., J.P. Morgan & Co., Salomon Smith Barney Inc., Morgan Stanley Dean Witter & Co., Lehman Brothers Inc. and Merrill Lynch & Co. In 1994 the SEC and the Justice Department alleged that major dealers on the electronic Nasdaq market conspired in a form of price-fixing that cost ordinary investors billions of dollars on their stock trades. Under the settlement, the SEC also brought civil charges against 51 individual traders for the brokerages, temporarily suspending them from the securities business. The brokerages and the traders, who agreed to the sanctions, neither admitted nor denied wrongdoing. The brokerages with the most alleged violations agreed to pay higher fines. In addition to $26.3 million in civil fines, they also agreed to pay back alleged illegal profits totaling $791,525. The settlement also requires the companies to improve their trading policies and procedures, SEC officials said. "Thanks to effective leadership, today Nasdaq is stronger and better,'' SEC Chairman Arthur Levitt said in a statement. "The sound reforms implemented over the past several years, and the commitment to strong oversight, greatly enhance investor protections and reaffirm confidence in the Nasdaq market.'' A year ago, investors who sued the Wall Street giants in a 1994 class action won $910 million from 30 firms in a settlement — the largest ever for such a civil antitrust suit.

To: Alex who wrote (26034)	1/12/1999 5:22:00 PM
From: Mark Bartlett	Read Replies (1) \| Respond to of 116779

Alex, <<The only reliable signal IMO that it has given out is that it will move in the opposite direction to ALL events that it has traditionally rallied in. Inflation is the only item, so far, that is left to be tested. I'm always hopeful, but something just don't smell right .>> You said it .... it has done just the opposite of what it should be doing .. and doing it right on cue - almost like it was being manipulated. MB

To: Alex who wrote (26034)	1/12/1999 8:42:00 PM
From: lorne	Read Replies (2) \| Respond to of 116779

Hi Alex. There is no doubt you are correct but I don't think that gold is dead just yet been comatose for quite a while but not yet dead. Why do CBs continue to hold vast amounts of gold if its dead. I have been assumimg that CBs are trashing gold because they fear the competition to their paper. Why should this be, shouldn't gold reserves add to the value of their currencies. Even without a gold standard wouldn't $1200/oz gold add to the value of the US$ and is it true that international debts can be paid in gold if so you would think that CBs of the world would want higher gold prices. There was a list on this thread a few days ago indicating which CBs had increased their gold holdings in the last year, why? if gold is dead. As has been posted here many times gold sales to private citizens world wide is up some places claiming record sales. I would like to ask people of the big gold consuming countries if gold is dead. I think that as long as gold remains at these low prices in terms of $US there will be record sales of gold items in th USA, sort of like a fire sale and as long as these low prices continue the big miners are moving a lot of their product likely more so than if the price of gold is higher. Gold miners have only one product and I am starting to think that perhaps they want the price lower so as to be in the purchase range of the average citizen they can sell (or move) a lot more at 200/oz than at 800/oz and still make a good profit. Like you said gold is not reacting as it has in the past maybe because it is being kept in a lower price range by the big producers. So I am now beginning to wonder how a higher gold price would have a negative affect on a countries currency especially if that country holds a lot of gold reserves. I am also wondering if the leasing business has gotten out of control and there is now no way out. Why all the takeovers or mergers by the big producers To control supply? to supply cheap gold?. Lorne Frustrated.