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

To: Richnorth who wrote (26289)	1/16/1999 8:07:00 AM
From: long-gone	Respond to of 116768

Rich & AF (all): <<"Global Gold Market Deficit Is 700 Tonnes Larger Than Consensus Estimates -Aggregate Short Position Too Large To Be Covered" NEW YORK, Nov. 12 /PRNewswire/ Noted international gold market analyst Frank Veneroso said today that Bundesbank disclosure of massive gold loans "confirms our view that the global gold market deficit is 700 tonnes larger than consensus estimates and that the aggregate short position in the gold market is too large to be covered... This is the beginning of a reappraisal of the gold market that will slowly unfold..." ------------------------------------------- Apparently the short position is far more serious by now. Seems to me the shorters will always find a way (or be allowed)to escape the ever tightening noose with help from the Feds, eh? How long will they be able to do this? Who knows? Until PANIC sets in!!! But when will this happen? Will anyone venture to guess? >> This is the manipulation I have been screaming about. If the Fed & all other Central Banks had not wished anyone to invest in gold - This position should have been made clear - to ALL! The way this has been accomplished is at the very least under handed. It may be well and good(this shall be determined by history) to disallow anything as an investment. When they have selectively disseminated this information to hedge funds and banks without allowing this information to come to the view of the whole world a crime has been committed! The central banks should not be allowed to let some peoples investments fail while allowing "friends" to profit without major news releases. There should be jail time if this is correct!

To: Richnorth who wrote (26289)	1/16/1999 3:41:00 PM
From: Ken Benes	Read Replies (2) \| Respond to of 116768

You can be certain that if there is a short position of 700 tons that has to be covered in February, the central banks will find a way to come to the rescue. With the currency situation in South America, the worlds central bankers, and the IMF will not let gold rise. That 700 tonnes will either be rolled out or replaced with a combination of loans from other central banks. Whatever the total short position(8-12 thousands tons), there is a remaining 20 thousand tons that can be drawn from. If this short position had to be covered at the same time of substantial investment demand, than there might be a problem. Investment demand while increasing due to Y2K problems is not in and of itself putting a strain on the supply situation. Morgan's short position will be dealt with without disrupting the market. To make investments decisions based on a possible default in their positions is setting the investor up for another disappointment in the gold market. Ken