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

To: lorne who wrote (27662)	2/3/1999 2:22:00 PM
From: Hawkmoon	Read Replies (2) \| Respond to of 116790

Did I voice any approval there?? I stated that it sucks, it's probably manipulation, but that there greater stakes at risk. That is how I percieve the Fed and other CBs reacting to this situation. There greater stakes in all of this, and while I don't condone manipulation, I understand why they are doing it (if they indeed are since all we have is hearsay and undocumented accusations). We should never have been in this situation to begin with, that I think we can all agree. The poor risk management procedures of the various banks that extended credit to some of these highly leveraged institutions for the purpose of doing "carry trades" on cheap leases of gold is to blame. But from the Fed's perspective, and one I agree with, is that you should counted one manipulation by permitting another, namely a short squeeze that threatens to distupt the value of the dollar. Regards, Ron