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This is information pertaining to the gold market.
If you are short gold you might want to read this.
If you are not interested in the gold market don't read this.
>Date: Sat, 16 Oct 1999 00:24:29 -0400
>
>Le Metropole members,
>
>This past week I told you that some of the major gold
>producers had agreed to an unwritten, but formal
>agreement, to cut their gold production, a la OPEC.
>My information came to me from the best of sources
>in the gold producer community.
>
>I just received this email from GATA Treasurer,
>Chris Powell. It is an internet post:
>
>"It's illegal to form cartels in America, the government
>prohibits any such organization.
>
>However, outside America, it's perfectly legal just
>take a look at OPEC.
>
>Since the Brit gold sale, South Africa got real
>angry and, led by Anglogold, its been pushing full
>steam into creating an international gold cartel made
>up of non-USA gold producers.
>
>The rumor buzzing out of London tonight is that an
>agreement has been reached and will be announced in
>big press conference soon.
>
>If non-USA mining companies announce even a 25%
>reduction in global gold output, it's gonna ignite
>the gold price beyond description."
>
>This post, at minimum, confirms what I have been told.
>I also told the Café that there are rifts in the World
>Gold Council. This explains why the rift. The overly
>hedged shorts do not care for this. Their shares will
>not perform well if the gold price explodes. This also
>explains why Gold Field Ltd announced that it has
>now covered most of its hedges.
>
>Chris Thompson of Gold Fields and Bobby Godsell of
>Anglogold, have been the powerhouses in the gold
>industry. They are standing up to the "Hannibal
>Cannibals" and quietly changing the gold world
>in behalf of their own companies and the gold industry.
>Gold Co. Shareholders: They are your "angels."
>
>They should be applauded.
>
>"Carp Diem" is IN. "Hannibal Lecter" is OUT.
>
>By now, you all know that the PPI stats released today
>were far more bullish than any one conceived. The dollar
>was beat up and the equity markets were trounced round
>the world, yet, gold was only "allowed" to rally $2 by
>certain "maligned forces." If that did not hit you
>over the head today about what we are dealing with,
>get a brain check up with a top flight brain surgeon.
>
>Our camp has been victimized far too long. If I may, I
>would like to echo most of our sentiments," WE ARE MAD AS
>HELL AND WE ARE NOT GOING TO TAKE IT ANYMORE."
>
>The Gold Anti-Trust Action Committee certainly will not
>stand for the bail out of the "gold cartel forces" that
>have ruined so many companies and lives to suit their
>own greedy, self serving needs.
>
>At 7:50 AM Central Standard Time on Sunday Morning,
>GATA and the "Right Flank" will make an announcement
>to the Café and to every gold company shareholder
>in the world.
>
>All the best,
>
>Bill Murphy
>Le Patron and GATA Chairman
>
>
>
>
>
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