Prodigal Daughter said...."information that the snakes probably don't want much media attention paid to."
That's the understatement of the decade.
In May of 1999, while we were all overwhelmed with MONICA, all this was happening:
New York-May 12-FWN--Gold futures ticked lower again
here today on a bearish sentiment in the aftermath of
recent news about official sales by the United Kingdom,
unable to draw much benefit from the sacking of the Russian
Cabinet and resignation of U.S. Treasury Secretary Robert
Rubin.
But sentiment was hurt Friday when the U.K. Treasury
announced plans to sell 415 tons of gold over the next few
years. This comes after the market was already wrestling
with the likelihood of potential Swiss and International
Monetary Fund sales.
From today's Drudge Report (written this morning):
CHINA: YOU'LL PAY US BACK WITH POLICY CHANGES
China expects the U.S. to make significant concessions on sensitive military, trade and diplomatic issues as payback for last weekend's NATO bombing of China's embassy in Belgrade, the FINANCIAL TIMES is reporting on Wednesday.
China is seeking conciliatory measures from the U.S., including dismissing allegations that a Chinese spy passed U.S. nuclear secrets to China.
FT reporters James Harding and Steven Fidler quote a senior foreign policy advisor to Chinese President Jiang Zemin: "It is now up to the U.S...to take the initiative to get the relationship back to normal."
Joining the growing Congressional chorus opposed to official gold sales, four U.S. senators, including prominent Democrat Tom Daschle, wrote Treasury Secretary Robert Rubin voicing their disapproval of the British proposal, backed by the Clinton
administration, to sell some of the International Monetary Fund's gold. They proposed instead that the IMF offer the gold as security for loans. In a statement that deserves some scrutiny and analysis, Homestake CEO Jack Thompson said that since the UK is believed to be one of the biggest lenders of gold, the announced auction will not have much impact on the physical market because the gold is essentially already in the market. He said the
problem in the gold market is not central bank selling but central bank lending.
Full articles at:
http://www.usagold.com/cpmforum/archives/1219995/default.html
Professor von Braun is a guest contributor to www.lemetropolecafe.com
Reprinted at USAGOLD by permission
Wonderful research. Sometimes when I am doing these searches, it seems that I am driven to find answers. I think that you have the same mindset. The recent erratic price of gold is also very odd.