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

To: Mark Bartlett who wrote (27521)	2/1/1999 10:04:00 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 116764

Great.... so you're looking for a short squeeze, are you?? Then go and squeeze a heavily shorted internet or y2k stock. They don't compete with the dollar. Personally, I don't think Bill will have much success, but that doesn't mean that gold won't rise this year as Y2K approaches. It's fine to sue, but you have find a venue that has the appropriate jurisdiction over these alledged acts. Manipulation on either side is wrong. Two wrongs do not make a right. It was wrong to artificially manipulate gold downward with borrowed gold from the CB's. But it is just as wrong to manipulate it upward in a sharp and highly disruptive manner. You can wish all you want, but I have a feeling the CB's are fully prepared to do what it takes to keep Gold in a managable price range. And if that means selling some of their reserves to meet demand, so be it. At the first sign of CB selling your squeeze will likely dwindle to nothing and it will be back to normal and gold will likely retreat even further in price in the face of this selling and failed attempt. Question: What law states that Fed can't sell their gold reserves here in the US? What law states that the ECB can't sell down to their 15% reserve requirement?? Final question: Should they sell and drive the price of gold down, Fiat currency will grow stronger in the face of that selling of gold. But again, I think I brought a valid point here with regard to CB's potentially selling gold to meet increasing demand for gold by those preparing for Y2K. There will definitely be pressure on the Fed to meet calls for hard currency as Y2K approaches. Were I them, I would welcome gold as an alternative source of "crisis cash". Regards, Ron