Bill,
After hearing another Gordon Brown terrorization of the gold longs I have come to an understanding regarding any and all gold commentary. It defies human nature to not want to maximize profit on ANYTHING you own, gold included. Therefore, if you actually OWN gold outright you are naturally bullish. If on the other hand you have sold gold, leased gold, sold short gold derivatives, own or sell paper interest that competes with gold, borrow money from paper entities that restrict gold ownership, forward sold "hedged" gold, disseminate information for a living that competes with gold, make jewelry from gold, or wish to acquire (more) gold by human nature you are bearish. Brown's very public opinion clearly is a man that represents people who do NOT own gold. His human nature reveals such. It's only a matter of categorizing the cause of his bearishness. Does he see the 3,000 ton IMF hoard as the last holy grail of suppression? Does he represent interests desperate to get the liquidity into an explosive market fast? Are BB's so way off sides on lease scams that it only clears the existing dilemma and not address demand? Is the IMF getting strong-armed? (Remember Kuwait dumping gold before being sold more weapons or the Catholic Church scandal that broke after a few "official visits"?) Are the shelves empty down at the GLD ETF shop and even the SEC doesn't want this herring smelling on their front porch? Any way you look at it, Brown desires a lower, not higher price.
A man who was bullish and actually cared about debt relief would talk of gold's historic undervaluation, would say in fact he thinks $1,000 might be closer to its true price, and lay out a plan that would contribute say $3 for every $10 in the rise in price. He would further add this is a double win for impoverished mining countries, who also benefit from the rising price. He would then call for the IMF to ADD, not sell gold reserves as a way to boost price. Just the announcement of this should send gold upwards by hundreds of dollars, providing immediate relief to indebted nations. That's the way a gold bull would think. A gold bear thinks precisely like Gordon Brown. I am a gold bull. I own it and desire a higher price. It's just my human nature. It's GATA's nature too, and to play a game that isn't rigged.
James McShirley