Re: [OPE-L] On the possible existence of a gold cartel

From: Paul Bullock (paulbullock@EBMS-LTD.CO.UK)
Date: Wed Dec 01 2004 - 18:23:06 EST

Paul, I mad another comment at the end of our last correspondence... it is
true that the gold  capitalists in South Africa did have agreements which
they strobngly enforced against each other, not to raise wages and to hold
done the price of bought machinery... it was an effective oligopsony. This
underlines the points I have been making about gold.

Paul B.

----- Original Message -----
From: "Paul Cockshott" <wpc@DCS.GLA.AC.UK>
Sent: Tuesday, November 30, 2004 11:35 PM
Subject: [OPE-L] On the possible existence of a gold cartel

> Paul B has suggested that there is a cartel
> attempting to hold the price of gold up by preventing
> labour saving technology being used there.
> I had never come accross this suggestion. At
> present there seems no material at all cited
> in google scholar suggesting this. On plain vanilla
> google there is masses. It all looks like
> conspiracy theory stuff claiming that there is
> an international gold cartel aiming to hold the
> price of gold down not up - it alleges that the
> leading private and state banks are conspiring
> to sell gold whenever the price rises, claiming
> that in the absence of this intervention the gold
> price would be closer to 500 dollars.

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