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Geesh! You people miss the whole damn point - the comments about Larry's
postings have nothing to do with pro/con of gold conspiracy theories or
copper conspiracy theories or silver conspiracy theories or whatever. The
point is there is a huge difference between posting original opinions and
analysis and barraging this list with a bunch of stuff which is available
elsewhere! If someone wants to post some original analysis or charts which
demonstrate a conspiracy in a traded commodity, that falls well within the
intended purpose of this list. Keep barraging this list with someone else's
crap on the wall and the real traders will be long gone.
Earl
----- Original Message -----
From: Judith Gledhill / Mark Oliver <gledhill@xxxxx>
To: scheier <scheier@xxxxxxxxx>; Larry Muir <trdoptions@xxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxx>
Sent: Thursday, September 30, 1999 1:51 PM
Subject: Re: more mis-information / wasRe: Fwd: GOLD FLYING - Some
Feedback - Summer Gold Loans a Disaster for Borrowers
> again i have to respond
> you guys are blind you think its aperfect market
> i give you an example when gold rockets up end of last week you exert a
lot
> of credit presure on mining companies to release fresh gold supllies
mining
> houses have been obliged to cough up in recent months
> its funny i never use to respond but you people who maybe dont trade
> commodities or forex really are naive and utopian to slag this guy off
> i guess ill get canned by real traders now for
> by the way your critique was the best of the bunch carefully written and
> very coherant am not slamming you but the rest of the jealous klique
> -----Original Message-----
> From: scheier <scheier@xxxxxxxxx>
> To: Larry Muir <trdoptions@xxxxxxxxxxx>
> Cc: realtraders@xxxxxxxxxxxx <realtraders@xxxxxxxxxxxx>
> Date: Wednesday, September 29, 1999 10:47 PM
> Subject: more mis-information / wasRe: Fwd: GOLD FLYING - Some Feedback -
> Summer Gold Loans a Disaster for Borrowers
>
>
> >What these light-in-the-loafers analysts at Metropole fail to tell you is
> that
> >some of these "maligned forces" that have been continually selling gold
> into
> >the lows are none other than hard working capitalist mines like Newmont
> Mining,
> >pressured by their bankers-- as most miners are-- to insure their
> production
> >against falling prices by hedging against futures. Being they can't
> afford
> >much, a typical maneuver is to pay for puts by selling out of the money
> calls.
> >That's why a mining company can show a significant loss in a sudden bull
> >market. Hardly the "maligned forces" referenced by metropole.
> Ironically,
> >it's has been and continues to be government interference in the market
> place
> >that puts companies like this at such a disadvantage, the same government
> style
> >regulations that Martin Armstrong has railed so hard against for so many
> >years. Surprising the markets with a change of policy by these same
> >governments is harder on the very sector the markets are designed to
serve
> than
> >the speculators who have so much to gain by a fast reversal. If there
is
> >manipulation here, it is via government interference. Funny, when it
> comes in
> >agreement with the metropole copy writers, it's not called manipulation,
> but if
> >it disagrees with their positions, it's called "maligned forces".
> >
> >And finally, this whole thing of a market being moved by other than
> "natural
> >forces" is the easiest piece of doublespeak to refute. Natural forces
are
> >simply the totality of all market participants, big and small--not one
> person
> >less than all participants and not one person more. There is a buyer
for
> >every seller. Markets don't move otherwise. Natural forces are mass
> >psychology in action. And as such seem to take on a life of their own,
> >reflecting the same patterns and cycles found in physics, biology,
> astronomy
> >etc--all things we on this group study and share ideas on continually.
> >
> >But the implication by metropole is that somehow the markets know about
> one's
> >motives. Those with "maligned forces" (you can read that as those who
> disagree
> >with metropole) are recognized by the market and have orders with
> time-stamps
> >that read "outside natural forces". What rubbish. Maybe we can start
a
> new
> >government report, another entry column in the Commitments of Traders
> Report
> >from the CFTC. So many Commercials, so many Speculators, and so many
> contracts
> >by "outside natural forces". The market doesn't know, and couldn't
care
> >less. It just responds to buyers and sellers. It just is.
> >
> >The reason this subject bothers me enough to respond continually is
because
> >this group purports to serve us individual traders, and this kind of
> >truth-reversal, in sensationalist tones, by this metropole group who
> clearly is
> >using this list for self promotion, does just the opposite. It leads
> traders
> >into lies. The sweet lies, the lies that eventually keep people in
> positions
> >long past the time their charts tell them to sell, and long before their
> charts
> >tell them to buy. And then to watch this metropole disguise it's own
> >attempts at influence and manipulation of sentiment with the cloak of
> reformist
> >morality. More lies.
> >
> >I want to second the recommendation by several on this list to have
> metropole
> >create a distribution list of their own for their self promotion. Anyone
> is
> >free to sign up. We've sampled their ware. It was very kind of them
to
> >share. But either open this list to all advertisers who want to self-
> promote,
> >or restrict it to individual traders who want to meet, share their own
> research
> >and trading ideas, and keep a forum for open discussion--free from
one-way,
> >broadcasted propaganda "of interest to some".
> >
> >Thanks
> >Mark Scheier
> >
> >Larry Muir wrote:
> >
> >> might be interesting to someone
> >>
> >> I'll tell you this... this site has good free info
> >>
> >> >From: LePatron@xxxxxxxxxxxxxxxxxxx
> >> >To: trdoptions@xxxxxxxxxxx
> >> >Subject: GOLD FLYING - Some Feedback - Summer Gold Loans a Disaster
for
> >> >Borrowers
> >> >Date: Mon, 27 Sep 1999 10:13:47 -0400
> >> >
> >> >Le Metropole members,
> >> >
> >> >Round the world, the gold market is so far having its
> >> >best day in 10 years. A significant battle has been won,
> >> >but not the war. I will have more on this later in my
> >> >Midas du Metropole.
> >> >
> >> >At the moment, around 9 AM CST in the U.S, gold is up
> >> >$13 and trading around $281.50. Silver is up 14 cents
> >> >and the XAU just opened a whopping 8.14 at 79.60.
> >> >
> >> >As you all know I have been pounding the table about gold
> >> >the past two months as "the best risk/reward investment
> >> >that I have ever seen." The price has now rallied about
> >> >$25 off the mid range of the summer.
> >> >
> >> >Thus, this big move today is no big surprise. The reason for
> >> >that is because of the work my associates and I have been doing
> >> >"gratis" for GATA. I am being fed as good, or better,
> >> >information on the gold market as anyone in the world right
> >> >now. Well positioned people in the gold industry want to
> >> >help us succeed against the "maligned forces" that have
> >> >been unnaturally holding the gold price.
> >> >
> >> >Several times this summer I reported to you that there were
> >> >serious "government to government" negotiations going on
> >> >about the gold price and the gold market. That information
> >> >was RIGHT ON THE MONEY. More on this later.
> >> >
> >> >I thought I would share some emails with you that
> >> >I received early today. This is a day to smile for gold
> >> >bulls. It is only the beginning.
> >> >
> >> >Bill,
> >> >
> >> >Its about 3.00 PM Perth time and I have just come
> >> >home from one of the best dealing days for gold ever.
> >> >Its a public holiday in Perth today although the
> >> >stock market is open. The dealing room was half empty.
> >> >
> >> >Well there we were, a couple of mates and myself
> >> >watching a boring market when we noticed gold edging up
> >> >and then edging up some more until we decided enough
> >> >was enough and we pulled the cheque books out and
> >> >started to buy the shit out of Normandy, Lahir, Sons
> >> >of Gwalia and Delta etc. If fact we were so
> >> >early into the rally we started to think noone
> >> >gave a crap, so we started taking profits thinking
> >> >well that was it.
> >> >
> >> >Well we sat back and discussed the continued
> >> >upward pressure on gold which technically was looking
> >> >like the space shuttle taking off. Being well
> >> >schooled by GATA in whats happening in the gold market
> >> >in general and it wasn't long before I was
> >> >conducting a lecture.
> >> >
> >> >Well it wasn't long before we concluded the squeeze
> >> >in the gold market was now on and we were lucky
> >> >enough to witness the start. We of course
> >> >received the European Economic Community's statement
> >> >on gold sales which further cemented the case for
> >> >conviction of Hannibal Lector.
> >> >
> >> >We then hit the market running. Bought everything we
> >> >sold back and then some more, the market kept running
> >> >so we doubled up. I didn't even
> >> >know how much stock I had bought I was in such a
> >> >frenzy and had no idea how much I was up, except it
> >> >was a shit load.
> >> >
> >> >Its been a long time between drinks mate but today
> >> >was our day. But thanks for the education on the gold
> >> >market because without it, I would not have
> >> >realized what was going on in the gold market and
> >> >therefore would not have profited.
> >> >
> >> >The sentiment has changed down hear I can tell you.
> >> >Its gold, gold, and all that bullshit being peddled
> >> >by the shorters re gold heading to $200 and
> >> >no longer being an important reserve asset etc, etc
> >> >was being openly ridiculed in out dealing room today.
> >> >That is a very important change in
> >> >attitude and as such I see a pile of cash across
> >> >the market pouring into gold stocks.
> >> >
> >> >My best buys:
> >> >
> >> >The Majors: Lahir (low hedging.)
> >> >Middle: Sons of Gwalia (great dividend yield but
> >> >hard to get stock)
> >> >
> >> >Small Cap: Taipan (high grade discovery at
> >> >Paulsens, WA, recently dropped from 20 to 9.5 cents
> >> >and has already had one failed takeover attemptagainst it)
> >> >
> >> >Spec: Montague: Great ground (next to Taipan and a
> >> >farm in with MIM at TIck Hill in QLD, great
> >> >management and exploration team, plenty of cash
> >> >and currently drilling Tich Hill (scene of
> >> >MIM's famous rich 25g/t discovery back around 1991.
> >> >MIM made $200M net cashflow over 3 years. Montague
> >> >has the right to earn 70% by spending around $3M
> >> >over next 5 years. Currently has already
> >> >earned 30% through past expenditure.
> >> >
> >> >Regards
> >> >Mark
> >> >
> >> >Bill:
> >> >I got up and Dec Gold is up to 287 ! Wow! You called
> >> >it right! CNN is finally giving some news clips on GOLD.
> >> >It's about time. The ingredients are finally making
> >> >their way into the "bowl." Short covering...good publicity
> >> >.declining market...and maybe Y2K. This should
> >> >be a very interesting week...are you going to hand the
> >> >Hannibals any towels to wipe up their "sweat?" I'm
> >> >wondering what was the impetus for
> >> >the G7 to make their announcement?
> >> >Great job Bill!
> >> >
> >> >D T
> >> >
> >> >
> >> >I wish to give you a personal thanks to you and your
> >> >web site. It is the best $99 that I ever spent. I have
> >> >a very meager knowledge of the markets and the web site
> >> >has been a wonderful place to learn and expand
> >> >my knowledge. Before reading your web site I had no
> >> >knowledge of forward sells, hedge funds, the role of
> >> >central banks and bullion dealers, and
> >> >how they all interacted. I am also starting to get a
> >> >feel for the expanding credit bubble, how it seems all
> >> >money comes out of this and the precarious position
> >> >that this bubble places us in. I can not thank
> >> >you enough for the education. It has been uplifting,
> >> >and unfortunately, depressing at the same time.
> >> >
> >> >I also thank you for your courage to stand forward.
> >> >
> >> >Gordon
> >> >
> >> >Cafe members - An item of interest for you:
> >> >
> >> >It will be helpful to keep this in mind. Anyone who borrowed
> >> >gold at 3% this summer now has a 43% gold loan on their
> >> >hands. - I repeat, 43%. The price of gold has rallied 10%
> >> >on average for those loans. That is 10% in 3 months.
> >> >Annualized - that is 40% per year. If a gold loan is to be
> >> >unwound, that is what he borrower will have effectively
> >> >paid if he buys his gold back today. Add the 3% gold
> >> >lease rate and it is a 43% loan.
> >> >
> >> ><A HREF="http://www.lemetropolecafe.com/scripts/products.cfm";>Le
> Metropole
> >> >Cafe</A>
> >> >
> >> >All the best,
> >> >
> >> >Bill Murphy
> >> >Le Patron
> >> >
> >> >
> >> >
> >> >
> >>
> >> ______________________________________________________
> >> Get Your Private, Free Email at http://www.hotmail.com
> >
> >
>
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