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

To: Ken Benes who wrote (28005)	2/11/1999 9:37:00 AM
From: Enigma	Read Replies (2) \| Respond to of 116753

Ken - gold leasing had nothing whatsoever to do with 'smoothing' operations - for one thing it has been in place far longer than the Asian collapse. It's merely a way for CBs to get interest on their gold holdings without selling them - no more, no less. dd

To: Ken Benes who wrote (28005)	2/11/1999 9:58:00 AM
From: Rarebird	Respond to of 116753

< I do not dispute the possibility that the gold market has been controlled by the central banks thru their leasing programs. Rather, their efforts have been effective in maintaining a growing economy.> To be sure. To justify this speculative bubble, the Fed needs to create an environment where there is very little or no inflation. That is to say, keep the POG low. Just keep in mind, however, that this economy is completely dependent on the stock market rising or falling. At this point, the risk/reward ratio in the stock market is loaded with risk. Let me ask you this: Who will the American public blame when the stock market eventually turns south? Living on the edge of a Bubble can be dangerous to your financial health if your long.

To: Ken Benes who wrote (28005)	2/11/1999 10:42:00 AM
From: IngotWeTrust	Read Replies (1) \| Respond to of 116753

My dear friend, Ken, economies of t'world ARE collapsing! AAAND Japan is near to finishing its very "FIRST DECADE of depression." Have you been on an extended vacation? I've always thought, especially in your bootstraps to major success in your personal business career, that you were a firm, unmoveable free market capitalist. Has asset inflation been THAT good to you these last 3+ years??? Ole "Surprised by your post!" 49r

To: Ken Benes who wrote (28005)	2/11/1999 5:30:00 PM
From: long-gone	Respond to of 116753

<<I do not dispute the possibility that the gold market has been controlled by the central banks>> Then, we should discuss why it has been manipulated to this exact range ($287-291). The next question that whould be brought out is "Why are they allowing LTCM to run a profit rather than the gold mines?" << Rather, their efforts have been effective is maintaining a growing economy.>> Perhaps One should note that our(and the greater world) economy was growing faster and more steady rate when gold was at around $310. << If this latter scenario had emerged, holders of gold would have emerged winners in a devastating landscape.>> No, many of us would have just broken even. This manipulation of gold price to this low level, has brought more profit to the short gold camp and NO profit the the gold mines. <<If the house of cards collapses as many on this board are hoping, you will get your wish, a bit later than you hoped but nevertheless a win, if the house of cards muddles thru, it is posssible that the world would be a bit better than dealing with decades of depression.>> Let me paraphrase for a moment. "It's the population STUPID" From the first, I have said that a growing healthy world economy is the friend of gold mining! There is a very limited number of ounces of gold on this earth. Scarcity is what drives the value of gold. The greater the world population the more gold will be sold. At some point (around 2004-2006) India will have the greatest population of any country in the world. The price should triple around 3-5 years after that.

To: Ken Benes who wrote (28005)	2/11/1999 6:40:00 PM
From: Mark Bartlett	Respond to of 116753

Ken, <<If the house of cards collapses as many on this board are hoping,>> I have heard this comment a number of times .... I suspect that most of us goldbugs do NOT want the global economy to come unraveled .... we just want gold to trade at a reasonable level, relative to the cost of production. Do not forget that for the vast majority of the latest bull run, gold traded at a much higher level, without the negative connotations you (and others) are attributing to its rise. That is the main reason that I do not by the argument that gold's rise will be the undoing of the world's economy ..... when gold was higher - the economy was doing fine. MB