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This is such nonsense. It has the flavor of spam. Any institution holding
gold is part of the market. They should sell to their hearts content. They
probably bought at the top too. Let the market decide where gold should
be. Who cares if it goes up or down. I question anybody's motives who need
it to go up for politically correct reasons. If I want to read Metropole
propaganda I'll go to their website, thank you.
Mark Scheier
Larry Muir wrote:
> Go long gold mining shares or call options?
>
> >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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