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Message: link to PDF Article on Gold

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Re: link to PDF Article on Gold

posted on Jun 30, 09 02:10PM

my personal favourite:

THE CENTRAL BANKS ARE
NEARING AN INFLECTION POINT
WHEN THEY WILL NO LONGER BE IN
A POSITION TO SUPPLY THE GOLD TO
BALANCE THE MARKET


The central banks have already supplied
too much gold via the leasing mechanism,
a development somewhat reminiscent of the
late 60s and early 70s when central banks
instead sold well over 100 million ounces in
an ultimately failed attempt to hold gold in
the area of $35.00 per ounce. A new group
of central bankers appears to have learned
nothing from the past but this time they are
considerably more desperate due to the
dramatically worse situation on the financial
and economic fronts. An indication of how
tight things are on this front is that the annual
selling quotas under the European Central
Bank agreement are consistently not being
met.

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