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

To: John Hunt who wrote (33320)	5/7/1999 8:37:00 AM
From: John Soileau	Respond to of 116764

Spot $281.60. eom

To: John Hunt who wrote (33320)	5/7/1999 9:02:00 AM
From: John Hunt	Respond to of 116764

Bond Traders Are Spooked, Silver recovering << The Federal Reserve took care of that temporarily on Wednesday when it agressively pushed rates lower by doing so-called repos - where they buy bonds back from banking customers and make other bonds more valuable - as well as coupon passes. The Treasury Department also trotted out its bigwigs like Robert Rubin to contemplate the possibility of Washington actually buying bonds on the open market. (Don't worry, folks, they aren't going to do it. The exercise was all for show.) Why go through all this trouble? Because Washington is probably terribly afraid about the way interest rates have been rising recently. Higher rates have widespread implications, not only because they could damage the stock market bubble, but also because the government is now being forced to pay much higher interest rates to borrow money at the same time it is spending a lot more because of the war in Yugoslavia. >> nypostonline.com ****** Silver recovering. kitco.ca

To: John Hunt who wrote (33320)	5/7/1999 1:15:00 PM
From: Investor-ex!	Read Replies (1) \| Respond to of 116764

Five monthly sales starting in July. Sounds like 'the plan' to attempt to contain POG during ramp up to Y2k rollover and the good ol' Brits get to do the honors. Of course, this is a fraction of the annual gold trade and the banks are mostly selling this stuff to each other, but aside from these minor points, you can't beat this sort of manipulation for both its effectiveness and its obviousness. There must be a law in effect where any central bank that contemplates selling any asset must first proclaim its intent well in advance of the act to 'ensure' its actions will not be 'disruptive' to the market. The effects of additional supply must be fully realized in the market prior to the act of selling. For it is plain, the best exercise of fiduciary responsibility is to drive the price down when you are selling assets held in trust in order to lock in the lowest possible price for those assets. All responsible, sensible central bankers know this to be true and the legal and regulatory oversight bodies evidently wholeheartedly agree. You can bolt the cover to the pressure cooker for a while, but sooner or later, you'll get oatmeal on the ceiling. And the fire isn't going out, it's getting hotter.