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

To: Timothy Liu who wrote (28134)	2/12/1999 9:38:00 PM
From: Bob Dobbs	Respond to of 116832

Tim: True again on both scores, IMHO. If the CBs gets rid of all their reserves it probably would depress prices for years. In the West, where lies a good chunk of the World's investment dollars, gold has been disinvested in recent years. It's only been in the last year we have seen sustained private bullion buying. The spectre of deflation and CB sales are, I think, however, just boogie men. When deflation occurs and governments carry excessive debt, public confidence wanes and therefore govt fiat money is threatened with extinction. That's when gold has the advantage. Though total CB dishourding is theoretically possible, at some point the CBs will realize their reserve depletion is life threatening. Then where will they be? Bob