Did Barrick(ABX) do "zip dee doo dah" with Bre-X ???
Subj: David Tice - Greenspan, Hero of NASCAR / Update
Date: 11/13/99 10:33:21 AM EST
From: LePatron@LeMetropoleCafe.com (LePatron@LeMetropoleCafe.com)
Le Metropole members,
David Tice has served commentary at The Kiki Table
entitled Greenspan, Hero of NASCAR.
It is a MUST READ serving.
"Yet, these astonishing inflationary...
Midas-
For those of us who believe the stock market is
a big bubble and that the gold market is being
held down at unnaturally low prices, this is a
very frustrating time. I heard on CNBC the other
day that the United Parcel Service's IPO gave
birth to 30,000 millionaires in that company.
Good for them.
... Will this prolonged nightmare ever end?
IT WILL.
And the same principal still applies - for every
action there, is an equal and opposite reaction.
That is why the gold move up will be grander than
most can imagine and this is why the stock market
will tank further than most can conceive...
That is why I continue to add to my junior gold
share holdings on every opportunity. The overdue
move on these devastated companies will be dramatic.
Ten fold moves up in share prices will be commonplace.
The wait has been agonizing, but the rewards will
be very special for those that hang in there.
Many of the junior and exploration silver and
gold companies are priced near bankruptcy levels.
There will be a coming, internet like frenzy for
companies have found gold and silver resources.
The eventual stock price multiples for these
firms will be staggering.
Keep the Faith!
A little GATA update.
Publicly, not much as been going on, but behind
the scenes we have been trying to determine our
future course of action while our investigation
continues about the bullion dealer manipulation
of the market.
Our attorneys have been diligently looking into
what course of action can be taken against the
N.Y. Fed to force disclosure about their recent
price capping activities in the gold market.
The attorneys have also poured over the Freedom
of Information Act to determine if we can force
disclosure there. All this entails reviewing
prior cases and the numerous exemptions that the
Fed has.
Hard to say what will come out of this - except
that if we are blocked in one area, we will
attack another.
My gut tells me the N.Y. Fed has a real dilemma.
I think they have facilitated the capping of the
gold price, but are getting in over their heads.
Due to a much higher supply/demand deficit than
they were prepared to deal with, they are
finding it harder and harder to hold the gold
price down. They lost control of the market last
month and they will lose control again.
It would appear Alan Greenspan is keeping his
word, "central banks stand ready to lease gold
in increasing quantities should the price rise."
The price of oil has increased 150% in one year
while Greenspan and Co. have made sure the price
of gold did zip dee doo dah. To hold the price
of gold down, the bullion dealers and the N.Y
Fed have had to call in all kinds of favors
from the likes of the Bank of England and
Kuwait (and who knows who else).
Ironically, I suspect their scheme is entering
a desperate phase. Will this be another example
of "desperate men do desperate things?"
Hard to say. What I am sure of is: one of the
great U.S financial scandals of all time will
unfold in the months and years ahead. I suspect
the United States public will learn that the
U.S. Treasury and the N.Y. Fed have squandered
a good amount of the gold in Fort Knox. The
reaction to that action will be one of
significant public outrage.
The gold loans (which probably are in excess
of 10,000 tonnes) have not been reduced to
any great degree. The natural supply demand
deficit still exceeds 125 tonnes per month.
Over time, that pales the BOE, Kuwait, etc,
gold supply. The bullion dealers, N.Y. Fed, U.S.
Treasury and overly hedged gold companies
have no end game. No way out. They are trapped
in their greedy scheme. They will have a big price
to pay and their financial scam, that has
devastated so many, will be exposed.
That is why GATA fights the fight. That is
why it makes sense to stay the course with
our gold and silver investments.
All the best,
Bill Murphy,
Chairman, Gold Anti Trust Action (GATA) gata.org
Le Patron, Le Metropole Cafe lemetropolecafe.com |
