Gold buggies hit the Russia Journal

[pms]

Jeez.  It's not your fault.  Anyway, something IS going on with gold.  There
IS a huge derivitive position and I don't know what that really means.  But
just the number of private placements going on and the battles for mining
rights in Chile, Venezuela, Peru, etc,  seems to indicate something afoot.
BTW, any idea why some USbank would endure expensive storage costs and pay
Russia 2% interest(one year lease rates are now well below 1%) for 40 tonnes
of gold?  Belgium just announced at last weeks London Gold Association(?)
conference that it will no longer lease it's gold, supposedly because the
rates aren't worth the trouble. (which doesn't sound quite right either)
----- Original Message -----
From: ChrisD(RJ) <chrisd at russiajournal.com>
To: <lbo-talk at lists.panix.com>
Sent: Tuesday, June 18, 2002 2:21 AM
Subject: RE: Gold buggies hit the Russia Journal


>
> I am so sorry, this is not my fault, I can't believe we published this. I
> said at the time that I wash my hands.
>
> Chris Doss
> The Russia Journal
> ------------------
> pms wrote:
>
>
> http://www.russiajournal.com/weekly/article.shtml?ad=6279
>
> Bush war has heart of gold
> Central banks all over the world have supposedly conspired to maintain
> furiously high, Enron-type derivative short positions against gold to keep
> it in an artificial bear market for, oh, say, the last couple of decades.
>
> Independent sources say the problem is the value of gold reserves in
nearly
> all the world's central banks is about even with the derivative shorts
held
> by roughly the same banks, at $320 per ounce. So, theoretically, if a
margin
> call were to come in today, central banks would have to pay out all gold
in
> all their reserves worldwide.
>
> According to a recent International Monetary ...................con't
> ---------
>