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>From: lepatron@xxxxxxxxxxxxxxxxxxx
>To: trdoptions@xxxxxxxxxxx
>Subject: BULLETIN - Goldman Sachs and N.Y. Fed to allow gold rally!
>Date: Tue, 27 Jul 1999 11:02:49 -0400
>
>Le Metropole members,
>
>Yes, it IS time to be aggressively long. The
>"collusion crowd" is feeling the heat for orchestrating
>too low a gold price. The IMF gold sale is history at the
>moment as it will not get through the U.S. Congress, the
>Swiss gold sale is in serious jeopardy,  African countries
>are pleading with the English and the IMF to cancel sales,
>and The Black Congress in the U.S. Congress is up in arms.
>
>Therefore, the spotlight is on the "gold cartel crowd"
>-( the bullion dealers led by Goldman Sachs, the Clinton Administration, 
>and the Blair administration in England ).
>It is becoming too obvious what they have been up to so
>they have decided that it would be better for their
>grand scheme for the price of gold to rally. For example -
>this is what kind of flack Tony Blair has to put up with:
>
>Langkawi, Malaysia ( Dow Jones ) - The U.K.'s Bank of
>England should suspend all sales of its gold reserves,
>South Africa's Deputy President Jacob Zuma said Monday.
>
>"The reality is we want the Bank of England to halt
>the sales," he said at a new conference on the fringes
>of an international economic conference on the
>Malaysian Resort Island.
>
>Thus, Goldman Sachs initiated a hasty conference call
>for its clients this morning and came up with some
>lame supply/demand reasons why the price of gold is
>going to average $270 this year, $275 next and $290
>the year after. ( Make that $375 or $475 next year, not
>$275 ).
>
>Dan McConvey, their precious metals analyst,
>told Goldman's clients that: mine supply is being
>curtailed at these prices, the high grading that
>is going on is unsustainable as gold mines to not
>have the long life reserves capacities of base metals
>mines ( 10 years versus 20 years respectively ) and
>that is politically incorrect for central banks to be
>seen  selling gold at this point in time. I wonder if
>Blair and Co. told that to McConvey?
>
>Goldman Sachs has been a big buyer recently so they
>had to tell their clients that they felt a rally was
>coming- after they finished buying of course. This buying
>probably came on on notification from Peter Fisher at
>the New York Fed who got the word from "the top" that
>the manipulation game plan has been altered for the
>moment. That is - they are going to orchestrate, or
>"allow" the gold price to go higher to temporarily
>diffuse some of the political pressure that is being
>exerted upon them.
>
>So uptown we go and we know WHY the gold price will
>go up. That does not mean the manipulation is ending.
>It just means that are side is gaining ground and
>that means we will only intensify GATA's efforts to
>expose this ludicrously obvious manipulation scheme
>that is destroying a supposedly "free trading market".
>
>One more thing. The lease rates are going back up
>again. Could it also be that what we have been saying
>for some time is upon us - namely, that the central
>banks have planned to reduce their gold lending from
>here on in to the end of the year. One month lease
>rates are 3.17% today and 6 month rates hit a NEW
>HIGH of 2.71%.
>
>Talk about risk! Who wants to borrow $254 gold with
>the risk that entails and pay 3.17% to boot?
>
>Gold, silver, and the XAU should rocket in the weeks
>to come. Get long, be strong and go WITH the
>"gold conspiracy crowd" this time.
>
>All the best,
>
>Bill Murphy
>Le Patron
>http://www.lemetropolecafe.com
>
>
>
>
>


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