Hi Gary.....
This might answer some of your questions..... regarding the Mining Share Market:
Le Metropole members and GATA Supporters,
It is time to step up the "Heat on Hannibal."
"Lechter" himself was out urging producers to
sell today, alerting them that the "hedge funds"
were going massively short. This will be interesting
as we reported to you this morning that the hedge
funds were buying up the senior gold shares which
is one of the reasons the XAU closed higher
today, while gold closed lower.
Why are the hedge funds so excited about selling
gold with oil at $22, the dollar diving, bond yields
headed higher, U.S. employment numbers at 25 year
highs, the CRB Index about to make new highs off
a massive base, and record setting gold demand in
play? Makes no sense.
This is what does make sense. We are going on an all
out campaign to alert the media that something is
very wrong with the gold market and to urge them to
write articles on what GATA has to say. Positive press
will attract speculators to take the "Hannibal crowd" on.
With your help that could be right around the corner.
A little over two months ago, I spoke at the New York
Mining and Investment Conference in New York in behalf
of GATA. While there I had lunch with Peter Mackay of
the Wall Street Journal, Janet Whitman of Dow Jones,
Christine Denver of Bridge News, Alden Bentley of
Reuters, and Claudia Carpenter of Bloomberg. They could
not have been nicer.
Janet Whitman did the story on the gold leasing market
today. I have had recent conversations with her on the
subject. Then The Wall Street Journal did a rewrite
of her story and cuts my quotes out. In a way, I was
written out of my own story.
So I called up Peter Mackay who does much of the
gold commentary for the Wall Street Journal and
asked him, "what gives?" He explained what happened
and then went on to tell me "the mining companies
have been telling us about GATA and we are thinking
of doing a story."
In addition, I received this email today from a very
highly regarded Financial Times journalist (he was
sent the document delivered to Phil Gramm, Chairman
of the Senate Banking Committee, etc):
Dear Bill,
Many thanks for your e-mail and for the very
interesting attachments. I have been conscious that
all the usual suspects are at play in the gold
market and found your explanations thought provoking.
I shall dig around a little. I can't guarantee that
I will get anywhere, but if I do see an opportunity
to take the story further I will certainly contact
you. With best regards,
In addition, two outstanding South African business
journalists, Jonathon Rosenthal and David Gleason,
are interested in doing stories on what GATA has to
say about the gold market.
The stories will fly on GATA if gold producers and
gold companies offer up what they know that
is not right with the gold market. They do not have
to go along with all of GATA's contentions. Each may know
just one tidbit. We want them to contact these
journalists or let it be known that they would speak
to a journalist on the subject. It could be "on"
or "off" the record.
The Gold Anti Trust Action Committee is letting the
major gold producers know of our game plan
(except Barrick).
GATA would like you to contact the gold companies
that you are familiar with and urge them to help us
which, in turn, will help themselves and their
shareholders. The gold company can be large or small-
as long as they want to contribute what they "know" or
believe is "wrong" in the gold market.
For example: Chris Thompson, Chairman of Gold Fields,
made a public statement that the bullion dealers were
spreading false stories about his company's hedging
activities in order to talk down the gold market.
If you can get the gold companies attention and they
have an interest in speaking to the journalists,
please have them get in touch with me for the right
press contact information.
The gold market is being held down while gold demand
goes through the roof. It is obvious that the gold
market is being manipulated. If the gold companies
will cooperate, the press is ready to write. Let us
get the job done.
Please do not contact the journalists unless you
have something pertinent to tell them as that would be counterproductive. It is
clarion call time. "Carp diem"
All the best,
Bill Murphy
Le Patron and Chairman, Gold Anti-Trust Action Committee
www.gata.org |
