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Can someone who has access to the data please look at Barrick Gold, particularly in the period that lead up to "the great gold sellout". As the world's largest gold producer if someone was to know what was going on it should have been them or some-one near them. Was there any indication of a sell position before the news got out generally? If so would you like to share the knowledge with the rest of us.
It has since come to light that quite a number of central banks have sold down their gold reserves in recent times. For example Holland has sold 600 tonnes in the last two years (or three and a half times what Australia just did). Our press reports that several other European central banks have reduced their gold holdings along with South Africa and Canada. In the last case, after Bre-X you can understand why they would want to get as far away from gold as possible. (Now there would be another good case-study. What did Bre-X lose? Was it as much as $4billion in capitalisation? There had to have been some indication of what was coming before people started jumping out of helicopters - or perhaps just after).
And a postscript for Jonathan. Most who are serious here have organised their affairs so that they only pay 15 cents in the dollar on the income side but even at that rate the value for money is questionable. I agree your GST is enviable. Roll on the next elections.
Regards,
JH
-----Original Message-----
From: Jonathan Ritchie [SMTP:jcr@xxxxxxxxxx]
Sent: Sunday, 13 July 1997 9:34
To: metastock-list@xxxxxxxxxxxxx
Subject: Fw: Gold Price
From: John Hunter <jhunter@xxxxxxxxxx>
To: 'waller@xxxxxxxxxxxxxxxxx'; 'Metastocklist'
<metastock-list@xxxxxxxxxxxxx>
Cc: 'Lionel Issen' <lissen@xxxxxxxxxx>; 'Clive Roffey'
<roffey@xxxxxxxxxxxxxx>
Subject: RE: Gold Price
Date: Sunday, July 13, 1997 6:25 PM
>As a post-script it seems as though the Australian Reserve Bank turned its
>$2billion into foreign paper is now earning $150million annually on behalf
>of the Australian taxpayers. If that means that I will be paying less
>taxes over the next ten years then I am all for it. What does Dr Clive
say?
>Regards,
>JH
since you guys in Australia are paying over 50c/$ in tax I would imagine
you are all for it !!!
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