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here is some mail I received
my analysis be long gold
there is a piece from harry schultz newsletter in here
>
>Subject: John D. Meyer - An Open Letter to the Gold Mining Community/ Sir
>Harry Schultz
>Date: Tue, 12 Oct 1999 00:32:29 -0400
>
>
>
>John D. Meyer, GATA Treasurer, has served
>commentary at the Matisse Table entitled,"An Open
>Letter to the Gold Mining Community."
>
>"Several months have passed since we last wrote to you.
>The months have been filled with the bitter and the
>sweet. Certainly the Bank of England announcement on
>May 7th was a painful period for the gold community.
>The “reign of terror” intensified as June approached
>and the bears' siege continued to hold us hostage
>throughout the summer. Then on Sunday September
>26th the world of gold was stunned by the announcement
>of the European central banks. In one dramatic move
>the “reign of terror” was broken. For
>GATA it has been a defining moment validating our cause.
>The power of the advance has furnished the clearest
>evidence to date of how aggressively the
>gold market has been manipulated."
>
>Cafe members and internet,
>
>Some public credit is coming my way. I would like you to
>know what a time consuming and courageous effort that my
>colleagues, John Meyer and Chris Powell, have put into
>GATA.
>
>Our credibility grows mightily every day. Much of it is
>do to their efforts. We have become lifelong friends as
>a result of our trench warfare like battles. They are
>great guys and gentlemen of the highest calibre.
>
>They have some company. Sir Harry Schultz, the newsletter
>wizard of Switzerland and Monaco, has been one of our
>staunchest supporters right from the gitgo. What a class
>act he is and, boy, is he ON THE MONEY!
>
>The following is from Sir Harry's latest newsletter.
>
>Gold
>
>Glitters a Gain!
>
>Oh, how sweet it is! After years of immoral & illegal
>manipulations by bullion dealers, bullion banks &
>bullion brokers, aided bycertain govts, gold broke
>loose. The price-fixers haven't given up; they still
>don't want a free mkt for gold, but they know they're
>in for a battleroyal. There is so much to tell I'm in
>the same position as with Y2Kreports. I've got 1000
>pages of notes, but limited space, so (as with Y2K)
>I'll suggest (below) how U can get more info & how
>to keep up on the dailygold in-fighting. It's a very
>exciting, bloody battlefield I assure U. Thestage was
>being set for a price breakout before the Euro central
>banks (CB)made their dramatic announcement that CB's
>would freeze/limit gold sales &halt gold loans for 5
>yrs. The news ricocheted around the world in minutes
>& bullion burst its 20-year shackles. But, as Sunil
>Madhok, of UAE, says on http://www.gold-eagle.com ,
>"The CB's didn't do this to help gold bulls. But
>they didn't want the bears slain (so they permitted
>some sales). They had no option. Speculators (eg, NY
>bullion banks & the anti-gold mafia) were hammering
>gold with no regard to the massive supply/demand gap.
>If CB'shadn't acted, the imbalances would have proven
>catastrophic (in light of the huge short position)."
>Pressure was also being brought to bear on Euro govts
>by developing gold-producing nations. And GATA was
>revealing the illicit tactics of the dealers/bankers.
>UK's fluky gold sale was being exposed as a political
>favour. Blair was in hot water.
>
>Gold mines who hedged (sold gold forward or bought
>puts) heavily, found themselves in trouble, as we forecast,
>& we don't bleed for them; we said it was like eating
>your young. Some were "forced" into it by bullion
>banks who threatened them with lower credit rating
>if they didn't. Blackmail! Shows how vicious the
>greedy price-fixers are. Ashanti Gold was example.
>Gold rose $8, but stock fell $4 same day. Margin
>calls killed them, only avoiding bankruptcy, so far,
>via the bankers "Red Cross." Goldman Sachs was
>Ashanti's "brilliant" dealer who got them short
>over their head. Barrick is another over-hedged mine
>& stock is under-performing non-hedgers. Stockholders
>screaming for true mkt exposure info.
>
>The price-fixers keep feeding the press & producers
>misinformation about the size of the gold short
>position, hoping to jawbone the price down. Ted
>Arnold apparently gets paid for trashing gold, as
>he has for years. Other mistaken info (intentional
>or otherwise) comes from Chase, Deutsche Bank,
>JPMorgan, AIG, Goldman, says Bill Murphy of GATA
>(Gold Anti-Trust Assn) who calls this "one of the
>great financial scandals of all time." CNBC/CNN give
>lots free airtime to gold bad-mouthers, but won't
>let Murphy speak. Of course, TV is owned by insiders.
>Freedom of the press has always meant freedom for
>insiders to press their case. For true stats on gold
>mkt, contact John Hathaway at the Toqueville Gold
>Fund & Caeser Bryan at Gabelli Gold Fund.
>
>For daily update on the gold war, download free at
>popular http://gold-eagle.com ,
>
>Says Fed is biggest worry; the price-fixers want Fed to
>intervene; report is they already have, selling gold
>futures. But gold genie is out of bottle, & aside from
>setbacks, it's unlikely the gold bull mkt can be
>stopped. As a chartist I note, basis London PM fix,
>a pullback to 289 would be a 50%normal technical
>retracement of recent up-swing & a great buy-more spot.
>But U'd have to place orders now, not after the event.
>Traders hope for pullback to 300-310. One day soon
>U'll wake up to a $100 overnight rise, so don't be
> naked out. Producer buy-backs are coming. •As with
>Y2K, I've only used 10% of my notes, so please
>access gold fax/web sites. The gold war has barely
>begun. We'll win/lose battles, but win the war &
>get a free gold price.
>
>PS:
>
>Bill Gates bought 10% of a silver company. Silver
>will be exploding also.
>
>Harry Schultz
>http://www.ihsl.com
>hsl.mentor@xxxxxxxxx
>Tel +32 (for Belgium) 16 533 684 --
>Fax +32 16 535 777
>Postal address: HSL, PO Box 622, CH-1001
>Lausanne, Switzerland
>12 October 1999
>
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