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just another propaganda spam from Larry Muir. Nothing to do with making
money through trading, again!!
----- Original Message -----
From: Gwenael Gautier <ggautier@xxxxxxxxxxx>
To: 'Larry Muir' <trdoptions@xxxxxxxxxxx>; <realtraders@xxxxxxxxxxxx>
Sent: Friday, September 10, 1999 1:50 AM
Subject: AW: Martin Armstrong and Princeton Economics International Scandal
Builds
> What's this a hoax, another chat room rumor???
>
> Gwenn
>
> | -----Ursprungliche Nachricht-----
> | Von: Larry Muir [SMTP:trdoptions@xxxxxxxxxxx]
> | Gesendet am: Friday, September 10, 1999 6:45 AM
> | An: realtraders@xxxxxxxxxxxx
> | Betreff: Fwd: Martin Armstrong and Princeton Economics International
Scandal
> | Builds
> |
> | good info
> |
> |
> | >From: LePatron@xxxxxxxxxxxxxxxxxxx
> | >To: trdoptions@xxxxxxxxxxx
> | >Subject: Martin Armstrong and Princeton Economics International Scandal
> | >Builds
> | >Date: Thu, 9 Sep 1999 13:00:29 -0400
> | >
> | >Le Metropole members,
> | >
> | >The Martin Armstrong - Princeton Economics International
> | >scandal is picking up steam. It is important for us to
> | >monitor this situation because two highly reliable
> | >sources have told us that he is mega short "borrowed
> | >gold." One foreign source told us that Martin
> | >Armstrong is short up to 20 million ounces of gold.
> | >The other source, U.S based, says he believes Armstrong
> | >is short 8 million ounces. Either way, the numbers are
> | >significant and cannot be easily covered.
> | >
> | >(Republic Bank of New York (Republic Securities) clears
> | >PEI's business, and has suspended the chief of is
> | >securities operation, James E. Sweeney.
> | >
> | >Tokyo - Dow Jones - Sept. 9 -
> | >
> | >"The Financial Supervisory Agency Thursday ordered
> | >Cresvale International Ltd. to stop selling bonds
> | >issued by its U.S. parent for six months, citing
> | >investor protection concerns, Kyodo News reported.
> | >
> | >The ban on sales of the dollar-denominated Princeton
> | >bonds took effect the same day.
> | >
> | >Cresvale International, formerly the Tokyo unit of
> | >Britain's Cresvale investment banking group, was
> | >acquired in 1995 by Princeton Economics International
> | >Ltd., a global investment and economic research company.
> | >
> | >Princeton Economics International issued bonds through
> | >a paper company set up in the Cayman Islands. Cresvale
> | >International has sold about Y120 billion in the
> | >Princeton bonds to dozens of companies in Japan, saying
> | >that customer assets are under SEPARATE custody by a
> | >U.S. securities company.
> | >
> | >But the FSA's inspection of Cresvale International
> | >in May found NO evidence of such practice.
> | >
> | >The financial industry watchdog decided to impose
> | >the sales ban to protect investors, fearing losses
> | >on their assets, Kyodo News said?."
> | >
> | >A Reuters story today added the following," Analysts
> | >and sources close to the situation told Reuters that
> | >regulators are investigating whether Republic inflated
> | >the value of futures and other derivatives it held for
> | >Cresvale International and investment manager
> | >Princeton Global Management."
> | >
> | >According to Cafe sources, Martin Armstrong has not
> | >been seen in the gold and silver pits for some time
> | >and the word on the Comex floor is that his financial
> | >operations are in trouble.
> | >
> | >According to a Wall Street Journal article last Friday,
> | >Republic had advised U.S. law enforcement and
> | >regulatory authorities in May of its findings.
> | >"Spokesman for the U.S. Attorney's Office for the
> | >Southern District of New York in Manhattan did not comment."
> | >
> | >Knowledgeable parties close to the Cafe and very
> | >familiar with law enforcement have told us that it
> | >is highly unusual for the U.S. Attorney's Office to
> | >be involved and just as highly unusual that information
> | >of this nature was let out in the public domain. That
> | >same party suggested that the investigation must be
> | >in more advanced stages and that it could be
> | >very significant.
> | >
> | >I repeat that our camp hears that just 4 hedge fund
> | >operations (Soros, Tiger, Moore Capital and Martin
> | >Armstrong) are short 30 million to 50 million ounces
> | >of gold. There is no way that amount of gold can be covered
> | >in a pinch without driving the gold price sharply higher.
> | >Unless of course the U.S. government and the N.Y. Fed
> | >decides to bail out them out.
> | >
> | >The rumored gold position of LTCM was swept under
> | >the table. If Armstrong is short as much "borrowed
> | >gold" as we think he his, it will not be that easy
> | >to do. That is so because U.S. law enforcement is
> | >involved as well as so many investors. That is why
> | >we are pressing on with this story. If it becomes
> | >publicly known he is mega short gold, it could start
> | >a gold buying stampede - especially, if all his
> | >trading activities have been frozen.
> | >
> | >For those of you that did not read my Labor Day
> | >weekend piece, "Cafe Des Scandales," at the
> | >Mattisse Table, the following is an excerpt from
> | >a May 14 letter from Martin Armstrong to GATA and
> | >our Secretary, e-group leader, Chris Powell:
> | >
> | >"I hate to tell you, but gold will drop to under
> | >$200 before it turns. I find it extremely one-sided
> | >how a Buffet and company of tagalongs is not a
> | >manipulation because they buy, while selling is a
> | >manipulation. The very guys you argue are manipulating
> | >gold down were big sellers of gold and buyers of
> | >silver during the Buffet rally. GS or not, the
> | >economy simply does not support your position. And
> | >I do not want to hear how I am short or some nonsense
> | >to try to discredit my views, because it is not true.
> | >PEI owns a 51 percent stake in a public gold mine in
> | >Australia. That is my long-term view; it does not
> | >change my short-term view.
> | >
> | >You cannot make a case for gold manipulation when
> | >central banks are willing sellers. They have
> | >demonetized gold and that is a simple fact of life.
> | >If you want a free market, then don't stand in the
> | >way of this bear market. Let the central bankers
> | >sell everything they have and then there will be
> | >no overhead supply to worry about. You cannot
> | >argue manipulation and take the position that
> | >these guys are not allowed to sell what they have.
> | >The banks know what is coming and if they sell
> | >ahead of the central banks, so be it --
> | >that's a free market."
> | >
> | >MARTIN ARMSTRONG
> | >Princeton Economics
> | >
> | >Japanese regulatory authorities have seen enough to
> | >shut down part of Martin Armstrong's financial
> | >operations in that country. They have concluded that
> | >one of his financial entities has been lying to
> | >regulators. Is he lying to GATA about his gold
> | >position too?
> | >
> | >All the best,
> | >
> | >Bill Murphy
> | >
> | >Le Patron
> | >Chairman, Gold Anti-Trust Action Committee
> | >http://www.LeMetropoleCafe.com
> | >
> | >
> | >
> | >
> |
> | ______________________________________________________
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