ever loose your balance, knowing its just a matter of time, to a crash
those movers and shakers of the world's economics,
government and private folks,
are a falling down,
they see and know this,
but are trying very hard so that you don't see or know,
but GATA has a peek at it, as its happening,
watch out below and run for cover,
the only eggs that will not be broken,
are those made out of gold,
or stock shares in gold mines
From lemetropolecafe.com
Midas du Metropole
A fascinating thing to watch. ...........
........... was immediately hit by the Counterparty Risk
Management Group members, Chase Bank and Credit Suisse........
. This is not my
Cafe members might like to know that a delegation led by .........
Repercussions from the BOE gold sale announcement ? - London - Dow Jones
-June 22 - U.K. Chancellor of the Exchequer Gordon Brown has cancelled
his scheduled appearance before the House of Lords Committee, which
scrutinizes the Bank of England's Monetary Policy Committee.
Brown was scheduled to appear at a public meeting of the committee at
1445 GMT Tuesday, but it will now take evidence from the Chancellor on
Wednesday evening in private, a spokesman for the committee said,
"Neither the Treasury nor the committee spokesman would give a reason
for the change".
From the Financial Times today:
Lawyers from the 14 financial institutions that bailed out Long-Term
Capital Management in September have discussed how far they should
comply with a request from the US General Accounting Office for detailed
information on the events surrounding the rescue of the hedge fund....
The GAO, which is an arm of the US government but does not have
authority over private sector companies asked for responses "as soon as
possible, but no later than June 28"....
It asked each firm to provide information on matters such as its precise
exposure to LTCM, and qualitative judgements on the causes and effect of
the episode, but said the information could be given anonymously.
This is exactly GATA hoped Congress would do. Find out "precisely" if
any of these firms ( many are bullion dealers ) had any gold exposure
with LTCM. Just a simple question!
Midas has two questions already. Why are these lawyers of this "bailout
group" discussing this with each other and why a comment of "how far
they should comply" versus a comment of "we will comply fully"?
The intrigue builds.
To the Cafe:
.......... Tracy Corrigan of the Financial Times was mentioned in
Martin Mann's Spotlight article, Wall Street's Golden Egg is Scrambled,
that we presented to you.
............. the manipulation of the gold market has to
do with a greater market manipulation. One of the theories is that the
gold market is being held down to demonstrate to the world that all is
well, that there are no crises out there. That line of thinking .......
....................... coincidental or not,
recent market action and recent comments by Alan Greenspan support this
theory.
In that spirit and as part of our series of newspaper articles that we
have served to you, we present a 12 year old article that was written by
former Fed Governor, Robert Heller. As you read it, you might ponder -
Could it be:
1) that a well intentioned plunge protecton team was put into place
years ago, but that it became overzealous and out of control over the
years?
2) this is the reason that there were only 10% stock market corrections
until last year and the more violent ones of recent times have made V
bottom, sharp moves right back up?
3) why Peter Fisher of the N.Y. Fed was called in on the LTCM bailout?
4) the reason it has supposedly been discovered in England that Goldman
Sachs has a 1,000 tonne short gold position on its books ( the
insinuation here is that it might be part of a VERY closely held,
Federal Reserve position )?
We could go on and on and will at the right time. For now we are
covering the waterfront with concepts that have "legs" with some pretty
sophisticated folks.
The implications here are enormous, ................
.............. This was written by a very respectable public figure
12 years ago. We are not saying "The President's Working Group or a
"Plunge Protection Team" is working the financial turf, but we do not
rule it out either. For if such activity has been taking place, it may
have substantially contributed to the "bubble" in the investing arena by
reducing the element of risk and by reducing risk expecations among the
public and financial institutions. If this is so, the longer it goes on,
the worse will be the calamity when it bursts. ..............
Midas
Have Fed Support Stock Market, Too
By Robert Heller
10/27/89
The Wall Street Journal
The stock market correction of Oct. 13, 1989, was a grim reminder of the
Oct. 19, 1987 market collapse. Since, like ............
............ the mere existence of a market-stabilizing agency helps
to avoid panic in emergencies.
The old saying advises: " If it ain't broke, don't fix it." But this
could be a case where we all might go broke if it isn't fixed.
Bill Murphy ( Midas )
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