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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Crimson Ghost who wrote (1482)10/10/1998 10:22:00 AM
From: Bill Murphy  Read Replies (2) of 81158
 
George,
Yes, you are right. The action is stinko. I will be reporting this in Midas on monday that I think the fix is in. Just got back from my old stomping ground in the city and talked with some of my people.
The essence of it is ( my opinion ) the fed and other central banks are fixing their problems one at a time. They are making gold available from all corners for borrowing purposes. As you know capital availability is contracting in most all corners. In gold it is increasing. Why?
1. governments do not want it to appear that there is too much fear and panic in the market place. Gold is a symbol of that
2. And most important. Gold is a source of money for hedge funds that need it to solve their other problems and it is a way for the central banks and financial institutions to be on the same side of the program.
EX on the hedging side of what is going on - a very well known producer is being offered gold to forward hedge with almost no credit requirements which they have had to utilize in the past. NONE. The producer has never been offered these terms before. The Wall ST. firm offering the transaction is closely tied to Rubin.They want gold to hit the market place to keep the price down for now. Of course, the pressure cooker builds.
Bill
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