shame on me, i am a lowly gata nut talking trash and posting rumors
The James Joyce Table
Discussion du Jour: Gold, Commodities, Midas du Metropole
Sold out indeed! As suggested last night, it appeared to me that the
gold market was SOLD OUT and that was the case...
From a technical standpoint, the volume picture is very bullish as the...
Gold floor sources have told the Cafe that if Dec. goes $303 bid,
the gold price should FLY...
I repeat this statement because it says it all to me. Goldman Sachs,
Hannibal Lecter himself, is predicting $375 gold within one year. This
is the bear of bears calling for an $80 move up...
... under advice of one of the "Hannibal Cannibals." With friends like that,
who needs enemies?
You also might like to know that several brokers have reported to me
that they have suggested to their clients to sell Barrick Gold. The
clients have done so. To date Barrick has refused to cover its forward
sales and is doing a seminar on why hedging is so wonderful...
I wonder what Barrick's unrealized *** will be as gold goes $350 bid?
Food for thought: Scuttlebutt rumor is The Bank of England did not have
the gold to deliver to Gold Fields Ltd that it bought at the second BOE
auction. Sources speculate that is one of the reasons Kuwait sent its
gold to the BOE.
How can that be you say? Well, other sources say that the BOE may have
lent out all its gold to the bullion dealers. The bank considers those
account receivables to be as "good as gold." Much of the gold world
today is about paper transactions. The BOE bidding rules call for the
buyer to declare for physical delivery or an account receivable slip
from the bank. Maybe the BOE did not count on producers coming in and
asking for delivery. Just something to think about.
Platinum ($426.90 up $12) and palladium ($413.65 up $10.50) are on fire.
Before the gold market became manipulated, moves such as these were
often precursors of a coming gold move. The Cafe's John Brimelow alerted
us some time ago that the big news for platinum would be strong demand
increase coming out of China. That news hit the wire services today.
Last year that demand grew by 70% and it is very strong again this year.
Russian supply disruptions continue to plague the palladium market which
has strong orders from the automobile industry.
Tom McNamara of CIBC World Markets reports that Jordan is under some
pressure to sell its 826,000 ounces of gold. First Kuwait, now Jordon.
The Hannibals must be really desperate ... search for gold suppliers
Gold output in South Africa, the world's biggest producer, fell 4.3
percent in the third quarter from a year earlier ... a 44 year low.
Financial Times - London - November 9: "He (Bernard Fleurose) was
appealing against this year's tribunal verdict that he and Henri Laurent
- another former JP Morgan trader and his superior - had manipulated the
market by depressing stock prices to avoid the bank having to meet
option obligations."
JP Morgan, big time bullion dealer, is the Co-chair of the Counterparty
Risk Management Group, along with Goldman Sachs. Another joke at the
expense of the public. Does manipulating a market down to protect option
positions sound familiar to any of you gold call option holders. Does it
gall you? It does me. We would be put in the clink if we did what these
bullion dealers and companies do.
... in knowing the gold hedging mining companies from the non-hedgers...
...listed alphabetically is contains seven companies which warrant the
attention of serious gold stock players...
Several million dollars have been spent on each of these company's
projects, they are not hedged, time is on their side and they look
very cheap.
My favorite, because I know it so well, is still...
Bill Murphy (Midas)
Chairman, Gold Anti Trust Action (GATA) gata.org
Le Patron, Le Metropole Cafe lemetropolecafe.com
Note: GATA is a non profit organization working extremely hard for
all man and woman kind to combat those evil forces aginst gold.
Note: The Cafe is a pay per view that is Very Strongly pro gold,
and its a good place to obtain extra information about the type
of evil that GATA is engaged in. Currently a free 2 weeks available
to one and all. |
