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how sad if you think 32 tonnes a quarter was hurting the bullion banks and
all there clients what has imploded them is simple the ending of fresh
leasing and options central banks
you think it was possible to cover there foward exposure of themselves plus
there clients it was impossible at best the smarter bullion houses manageto
trim substantially there shorts as to get really long you are in dreamland
sri dont want to be nasty
-----Original Message-----
From: nwinski <nwinski@xxxxxxxxxxxxxxx>
To: fritz@xxxxxxxx <fritz@xxxxxxxx>
Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxx>
Date: Friday, October 15, 1999 6:44 PM
Subject: Re: Gold, silver?
>
>
>Gary Fritz wrote:
>
>> OK, rather than argue about Le Metropole reposts, how about we
>> actually talk about what the gold market is doing?
>>
>> Based on all the furor over Larry's posts, I've been watching the
>> silver & gold markets lately. Looks like they tanked fairly severely
>> (5%) in the last 2 days. I would have guessed the PPI numbers and
>> AG's comments would have *lifted* gold, not killed it. On the other
>> hand, the drop started midday yesterday, so something else must have
>> started it.
>>
>> Any guesses what caused this sudden drop, and how far it's likely to
>> go?
>>
>> The XAU is down about 17% from its high a few weeks ago. Maybe the
>> price pop was just a temporary aberration, and it's going to continue
>> on its downward course now?
>>
>> Seems to me, though, that if the stock markets start to tank (which
>> seems more and more likely) that gold will likely find new strength.
>> Correct?
>>
>> Gary
>
> The recent gold rally was the result of a conspiracy to bail out the
>major gold dealers at the expense of a few large but weak short sellers,
>i.e. Martin Armstrong. You may remember that
>Warren Buffet, a few years ago, had a press conference to announce that
>he had been buying silver.
>The silver ran for about one week and then that was the top for the past
>three years. In the same light,
>the big gold dealers had their announcement that gold should go up. Guess
>why? You don't suppose they may have owned larger amounts of gold sold to
>them by the Central Banks and needed to get out? My best guess is that
>gold can and will go down with the stock market, assuming that the stock
>market continues lower, and that Gold will see $250 before it sees $350.
> By the way, I bet a careful investigation of the Cafe Le Metropole
>would reveal it is being funded
>or controlled by the same gold dealers and Central Banks who engineered
>this rally.
>
>Contrarily,
>
> /\/
>\/\/
>
>
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