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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Clappy who wrote (48934)3/25/2002 11:16:11 AM
From: Jim Willie CB  Read Replies (1) of 65232
 
forgot to clarify, gold is consumed in large amounts
in jewelry
the argument that 99% of all gold mined since the pharoahs still rests in a vault somewhere in the world
... is pure shit

my sister alone has $25,000 worth of jewelry
check your wife's jewel box
(it is not below her waist)

jewelry is consumed in large amounts
also, gold is now being parsed into small bars
Japan is buying them up like celery sticks

a tidbit: Goldman Sachs is not a moneycenter bank
so they do NOT report any derivatives to Comptroller of Currency
JPMorganChase and Citibank do report all derivative books

lastly, a note on pullbacks for gold and silver
since early March, we have seen gold back down from 300
but bear in mind that Japan's Repatriation ends March 31st
their gold demand should rise very soon into April

I expect pullback forces to be tempered by unwinding of Repatriation
when gold gets and stays over 320-335, watch the short squeeze
IT WILL BE HUGE AND GRAB HEADLINES
the monstrous staggering colossal huge suppression game is taking place within a narrowly defined range
when gold breaks above 325, they risk ruin
when silver breaks above 4.75, they risk ruin
the covering will be fun to watch
this game will break down in waves, with retracement periodically
those are the entry points, after retracement stages

I expect gold to get to 600 quickly by next winter
and silver to get to 25 by that same time

energy inflation will combine with Japan to light the fuse
our energy problem did not go away with the recession
it rested
/ jim
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