gold soars while sterling plummets, page-20

peteai,

Whilst what our Reserve Bank did (at the request/suggestion?? of our Treasurer) was stupid IMO. But they did it in the US$350/oz range then disclosed they did it. PLUS, as they said at that time, Oz has plenty more in the ground (possible hint of confiscation??) if they need it.

Brown, announced his intentions in advance. That UK will sell (half of our gold) 300t at 25t every 6 weeks. Meaning that anyone with enough money (read what you want in this) could manipulate the price down every 6 weeks picking up these 25t lots on the cheap. About US$270/oz on average.

And yes, any student of history, particularly a C of Ex. (treasurer) should have known of the inherit value of gold. All they had to do was read Greenspan, which the UK later Knighted.

Regards, kg