(GATA News) "alarmist" call to their clients in the middle of last night...
But First - A message from this sponsor (DougAK)
The hardest foe GATA can encounter is not the enemy that is doing the
actually damage to a free and open gold market, but the supporters of
those doing the crime who unwittingly accept the blaspheme so that a
continuation of them feeding off the carnage will not be interrupted.
These are the ones who stand inbetween good and evil, at the benefit
of the evil, so that the view the uninformed good see looking towards
the evil is represented by simple folks who we see as harmless.
Read excerpts below of such an example and see that yes/no true/false
exist/void and the like are used in a contradictory context, leading
to prove to themselves their version as seened by their account of
the facts. Do not look too close, for the contents taken as a whole
will violate sense and reason.
Conclusion: Let one as such post, but ignore as one would a wacko
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From: DoubleD
An audit would be a good idea - but IMO there must have been an awful
lot of employees working at Fort Knox over that 40 odd years - and if
there was no gold there we would know - it's too big a story for the lid
to be kept on.
From: DoubleD
". There is a joint effort by the Fed, the major brokerage houses, and
the bullion banks to keep a lid on the price of gold. That is price-fixing"
You make a statement of fact of the above whereas its an unproven theory.
Barrick uses bullion banks (I assume) as a client who calls the shots.
As for Barrick being an unsatisfactory j/v partner - why don't you ask
Pangea about that - I think you'd get a different opinion? I think they're
living up to all their obligations and providing drilling results in a
timely manner.
It's so easy to make these allegations without access to any facts.
In fact it's because you don't have access to the facts that you can
make the allegations!
From: DoubleD
Well of course that is nonsense - on two counts - first no major
producer wants the POG to fall for reasons which are so obvious they're
not worth stating, and second, the majors thrive on the success of
juniors - and would be shooting themselves in their collective feet by
driving them into the ground. Most large deposits are found by juniors.
It would be good if PGD is able to do some more financing at the right
time - but as you pointed out I think they will need a lot of money at
some point and may not be able to keep a major from the door with an
offer - but the more the company does from its own resources the better
the final result. d
(Now, back to the regular scheduled broadcast)
Subj: A little Midas update.
Date: 12/13/99 3:39:38 PM EST
From: LePatron@LeMetropoleCafe.com
To: dougak
Le Metropole members,
The most significant news of the day will
not be reported anywhere. Goldman Sachs sent
out an automated call to their clients in
the middle of last night making sure that
they all knew that even if one of the 15
European central banks scheduled to sell
gold over the next 5 years as part of their
new agreement decides against selling, that
other ECB banks were standing in line to sell.
Why make a comment like that and why in the
middle of the night? I asked the Cafe's John
Brimelow for his take on that. He said it
sounded a bit "alarmist" to him. Could there
be some sort of bullish announcement coming
and they are trying to pre-talk down any
future effect this would-be announcement
might have?
Chase Bank and AIG late Comex sellers with
Goldman Sachs a big buyer today.
Here is a story today that I found of interest for us.
Gold stocks: antidote for technology
By Thom Calandra editor-in-chief CBS MarketWatch
December 13, 1999
SAN FRANCISCO (CBS.MW) -- Don't cringe -- that's the line I used
in the "CBS MarketWatch Weekend" segment on gold stocks.
Today on CBS MarketWatch
Don't cringe. Gold stocks are worth a
look, especially for those of you who
are wringing your hands, watching the
tech train accelerate without you on board...
Here's the TV transcript:
The whole world is talking technology. But
you're wondering -- did you miss the boat?
Yahoo at 350 a share, after all, might
not be not your idea of smart investing.
So? While investors everywhere are zigging,
maybe it's time you zagged? Into gold stocks.
Don't cringe. Sure, gold stocks are the very
antithesis of technology stocks. Slow. Dull. Cheap...
And gold -- near a 20-year low -- is one of
the few commodities this year that has yet
to rebound in a big way.
Still, savvy fund managers are placing their bets on gold mining stocks.
Why?
Demand for gold jewelry is exceeding output,
thanks to recovering economies in Asia, the
Middle East and India, according to trade
groups like the World Gold Council.
Fund managers and nervous investors -- with one
eye on a possible Year 2000 panic -- are
looking to hedge the enormous gains they've
made in technology stocks with something
more basic.
Gold mining companies themselves are ending
their practice of selling forward their
production of the metal -- a practice that
has been a drag on the market.
Alan Snyder of Snyder Capital Management
L.P. in San Francisco tells me he sees a
big price move coming ... and soon...
In Snyder's words -- "Hang on, because
when the ride comes, it's going to be fun.
I see a multi-year move coming."
.....Gold investors have been waiting for that ride for a long long time.
All the best, Bill Murphy
For new readers, the above mention of GATA is as follows.
Bill Murphy, Chairman, Gold Anti Trust Action (GATA) gata.org
Also, GATA related articles can be obtained at the pay for view site.
Bill Murphy, Le Patron, Le Metropole Cafe lemetropolecafe.com |
