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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: stockman_scott who wrote (50742)	4/30/2002 6:34:26 PM
From: Jim Willie CB	of 65232

mining hedgers have a cozy relationship with central bankers I believe the Fed has offered gaurantees to mining firms the biggest single buyers in London in early April were mining firms what incredible irony!!! mining firms are buyers of gold on the world market utterly absurd for mismanagement I dont know why Barrick shareholders dont file class action lawsuit but some degree of unwinding of miner hedging will go smoothly as central banks come forward with the precious gold and allow it to be sold to bail their partners out a 3-way corrupt relationship has persisted Central Bankers -- Bullion Bankers -- Hedged Miners CB lease out gold, lie as to reserves they allow our national reserves to be depleted at low prices BB lease out gold and sell short huge naked gold futures they orchestrate the market suppression, being the professinonals HM produce at cost so as to keep leasing to minimum they offer legitimacy to excessive selling, as producers all three will get burned I still think JPMorgan will fight hard to avoid bankruptcy what most people forget is that the Gold Cartel has had to suppress two things: GOLD, obviously (and lilbrother SILVER) shorterm interest rates JPM is set up to lose big money in the gold short squeeze but also in the rising rate environment Greenspan expertly developed in his research article the tight relationship between gold and shorterm rates as gold jumps in price, so will TBill yields it wont be pretty one cannot suppress one without suppressing the other actually, it is a 3-way relationship GOLD -- TBill YIELD -- USDOLLAR as the dollar slides, gold will jump, and rates will rise then comes the Fed Gold Scandal gonna be ugly and I dont think Main Street investors have a clue what lies ahead / jim

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