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The chart doesn't show that anyone is buying the yellow stuff.
>From: Valhalla <scheier@xxxxxxxxx>
>CC: realtraders@xxxxxxxxxxxx
>Subject: Re: Fwd: BULLETIN - Goldman Sachs and N.Y. Fed to allow gold
>rally!
>Date: Wed, 28 Jul 1999 15:50:10 -0400
>
>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
> > >
> > >
> > >
> > >
> > >
> >
> > ______________________________________________________
> > Get Your Private, Free Email at http://www.hotmail.com
>
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