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

To: long-gone who wrote (33799)	5/13/1999 3:10:00 PM
From: donald martin	Read Replies (1) \| Respond to of 116779

<<would conspiracy be the wrong term?>> Perhaps not, but so what? You don't think the shorts will talk about conspiracy on the long end when gold's over $500? You know, for all the talk about conspiracy and manipulation that goes on here, the last thing any of you wants (and I include myself, here) that would end all of this bickering is a gold standard. I won't debate the merits of a gold standard; it's enough to say that a gold standard is politically unsustainable, period. Now, the absence of a gold standard let's us bet on whether or not the central banks can successfully defend the value of their currencies. You have the right not to speculate. But if you speculate, and if they're successful defending currency, you got nothing to complain about. If they say they'll sell gold until it's down to $10/ounce, and they don't, then you're just a fool for believing them. If they say $280 is a good place to sell gold, and you have some gold and you sell it, then regardless of their positions you are (in my opinion) a fool. You are a free individual. You are free to buy gold at these prices. No one will tell you that gold is $275 an ounce, but you can't buy any. (THAT is a manipulated market.) To the extent that you, or anyone else, let's others influence your thinking (manipulate you?) about whether $275 an ounce is a good value or not is a measure of foolishness on the part of market participants. And even fools are allowed to participate in this market. You're insisting that gold is worth much more. Someday it probably will be, but right now it is not.