Dutch Central Bank Sale Announcement Imminent? Message Board

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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: Bill Murphy who wrote (3393)	2/12/1999 6:03:00 PM
From: Kaena™	Read Replies (2) of 81011

Bill, another Kitco post-have you heard anything about any other hedge funds that may be in a situation such as LTCM? Gambler (ISURE/BGO/POG) ID#432223: Copyright © 1999 Gambler/Kitco Inc. All rights reserved This is a buy & hold if I've ever seen one. And I don't mean nibble nibble/bite-I mean chomp chomp/swallow. They're highly leveraged to POG-they need $325 gold and about 90cents copper. This stock will make its BIG move when gold gets above $320. You can say this about many stocks, but few are as highly leveraged to the price of POG. I'm continuing to accumulate at these low levels-just bought some more yesterday. ( My information leads me to believe gold will begin another upmove early March. I mentioned this in a previous post. A particular US hedge fund is in trouble involving several bullion banks and is short gold big time. The Fed has been trying to help them as they did LTCM but will do no more than try to keep the POG at current levels. This hedge fund is having their heads handed to them on a platter related to their investments in Brazil and China. Several bullion banks are nervous and want to call in their gold loans. They're concerned with the problems in Brazil and fear that China is the next to devalue their Yuan currency. Of course the hedge fund has already sold the borrowed gold and invested the cash into some losing propositions. They need to buy/in the process of buying gold before things get worse in either of the two countries. They have been waiting for gold to fall below $280, but time is quickly running out. The word is that gold will NOT fall below $280 because of deflation fears and because $280 is crucial for keeping half the world's mining companies from going out of business. The story is unfolding, and I expect the news to surface by mid March to April time frame. This according to a personal friend/business client who was close to the source and recently abandoned ship from their firm ) . Gold put a bottom in late last August. Gold's climb will be slow in the beginning with setbacks and profit taking. I'm looking for gold to mkake its first big move this spring. I think $340 by late May. Next resistance will be $380 which will be broken through in early September. Then we'll be looking at $400 area resistance to be broken possibly in December due to Y2K fears. But I believe as POG begins to rise and breaks through the $300 barrier, trading will become very volatile. All of this is my personal opinion, and I'm buying/chomping big time! But BGO is only one of many that I'm currently accumulating. Good luck! Go Gold!!!!!!!!!

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