Verlieren die Zentralbanken jetzt den Goldkrieg?

verfasst von R.Deutsch, 07.10.2005, 12:13

-->1:45a ET Friday, October 7, 2005

Dear Friend of GATA and Gold:

The economist Robert A. Mundell, inventor of the euro,
got top billing Thursday evening at the fall meeting of
the Committee for Monetary Research and Education
in New York but it was Murray Pollitt of Toronto stock
brokerage house Pollitt & Co., president of River Gold
Mines Ltd. in Canada and veteran engineer and gold
share trader, who stole the show.

Pollitt gave the CMRE crowd of about 100 a review of
the gold market that was virtually identical to GATA's.
His points:

-- Central banks long have been trying to regulate the
gold price and are doing it now.

-- He has it on excellent authority that the
International Monetary Fund recently joined central
banks in leasing gold.

-- He also has it on excellent authority that the
Long-Term Capital Management hedge fund, which
collapsed in 1998, was heavily short gold.

-- If the gold price had kept up with the price of oil
and copper and not instead been suppressed by
central banks, it would have reached $800 by now.

-- The gold price suppression scheme is falling apart
RIGHT NOW.

-- Gold's rise this time will be far more dramatic
than its rise in the late 1970s, for back then there
were no gold short positions and no gold derivatives.
Those short positions and derivatives will make
gold's rise many times more explosive this time.

-- The gold price suppression scheme of the central
banks is"a big con game" to persuade people to
hang on to government currencies. It will end in a
"wild ride" for gold and commodities.

-- Even with the rising price of gold, rising fuel
prices lately have been ruining open-pit gold miners
and thus sharply reducing worldwide gold production.
(Of course this decline in production forces the
central banks to cough up more gold from their
reserves to contain the price.)

Also of gold interest among the meeting's other
speakers was market commentator Marshall Auerback,
international equities strategist for RAB Capital
in London, who echoed the remark made at GATA's
Gold Rush 21 conference in August by Adam Fleming
of Fleming Family & Partners in London. That is,
Auerback said, new buyers can overwhelm the central
banks in the gold market. This, Auerback explained,
will require a"paradigm shift" in the thinking of
investors about currencies, but investors indeed are
starting to consider gold a reserve currency along
with the dollar and euro.

Auerback predicted a gold price of $495 by the end
of the year despite what he expects will be continued
pounding by the central banks. He further predicted a
gold price in four figures within two or three years.
The dollar, he added, seems to have topped and will
have to go much lower.

GoldMoney founder James Turk, editor of the
Freemarket Gold & Money Report and consultant to GATA,
told the meeting about electronic gold's potential for
the settlement of international trade, providing
complete independence from government currencies.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Thread gesperrt

 

gesamter Thread:

• Verlieren die Zentralbanken jetzt den Goldkrieg? - R.Deutsch, 07.10.2005, 12:13
  • ist doch irgendwie die alte Leier... - BillyGoatGruff, 07.10.2005, 13:03
  • Wer verliert wirklich? - Morpheus, 07.10.2005, 13:23
    • Re: Welche düsteren Visionen?? - R.Deutsch, 07.10.2005, 14:18
      • Die Freiwirte haben nicht immer Unrecht (o.Text) - Frank, 07.10.2005, 23:04
        • Re: Nicht immer - nur wenn sie über Geld reden:-) (o.Text) - R.Deutsch, 08.10.2005, 10:24
    • Re: Wer verliert wirklich? - Diogenes, 07.10.2005, 16:31
    • Dann mal her mit den düsteren Visionen... - FOX-NEWS, 07.10.2005, 21:21
  • Re: Verlieren die Zentralbanken jetzt den Goldkrieg? - CRASH_GURU, 07.10.2005, 15:23
    • Re: Verlieren die Zentralbanken jetzt den Goldkrieg?@ C_G - Alana, 07.10.2005, 18:22
      • Re: Verlieren die Zentralbanken jetzt den Goldkrieg?@ C_G - CRASH_GURU, 08.10.2005, 22:53
  • Re: Warum"verlieren"?....die gewinnen dabei doch! - Hasso, 07.10.2005, 20:01