Mr. M
Yes I do. Here is my latest for you.
Le Metropole members,
www.gata.org is up and running. The GATA Committee
invites you to visit the Gold Anti-Trust Action
site. This is a site for all those that consider
there may have been collusion by some of the Wall
Street Giants- certain financial firms that are
borrowing gold at less than 1% interest rates and
using those funds to finance other investment
activities. In doing so, we believe that they may
have conspired in a manner that violated U.S.
anti-trust laws.
The GATA Committee believes that various bullion
banks and certain New York investment houses are
short thousands of tonnes of gold. As there is
a natural, yearly 1600 tonne supply/demand deficit
at the moment, they must continually borrow more
gold and feed that supply into the gold market
place to keep the price down. If they do not, the
price will rise to ration the diminished supply.
It is our opinion that without this borrowed gold
supply, the price of gold would rally to an
equilibrium price of between $400 and $500 per oz.
It is the intention of GATA to expose the huge
short positions of these arrogant price colluders.
We will expose their bullying, block busting type
of tactics that have terrorized gold producers
and the gold shareholder community. When it becomes
known how short they really are and that number of
tonnes is greater than a year's gold mine production,
other big money will go after them by buying up the
available gold. The shorts will then be in big trouble
as that word spreads to the central banks that have
to be concerned about gold loans to financial
institutions. The gold lease rates will start to firm,
then firm dramatically. The loans will become very,
very expensive to roll over. When that happens, the
gold game that is being played by "The Masters of
the Universe" will end
We ask you to stand up and be counted. Are you fed
up with your gold shares going nowhere but down?
Would you like them to soar in price? Stop
fretting and do something about it.
Alain Despert,our Absolut Vodka artist, has
brilliantly captured the GATA spirit in his painting
at gata.org. Be part of the GATA
legion that he portrays to you in his GATA painting.
Your contribution WILL make a difference. Here is
a letter I received from a $20 contributor:
Dear Bill Murphy and GATA staff,
"Thank you dearly for your efforts. In the spring
of 1997 I contracted a major illness and have not
been able to work for two years. In July of 97
I learned about Y2K and moved my small pension in
hard currency into gold and silver. My wife and
I have hung on to that pension $ with white
knuckles as we've moved down the economic ladder.
We are now living in my Mother-in-Law's back yard,
in a travel trailer. A positive change in the
price of gold will keep us out of bankruptcy and
save the majority of our pension. I regret not
being able to send more $.
Sincerely,
Tim Johnson
Can you at least do what Tim Johnson has done?
GATA will be relentless in our pursuit to expose
this outrageous situation that has devastated
the gold market participants. We will demand
a "level playing field". Nothing will stop us,
or our effort.
There are millions of gold stock shareholders.
While we hope to attract some significant
contributions, smaller contributions by
thousands of Tim Johnsons will really add up and
create a substantial war chest that will be
necessary to confront our adversaries that
will commence by GATA, and our law firm,
launching a serious investigation.
The internet can make all this possible. The
GATA Committee would appreciate it if you
could this email GATA request to other gold
stock shareholders and to the gold companies
in which you have made investments.
We thank you.
Bill Murphy
Chairman
GATA
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The silver close on Friday was spectacular as
it rallied 13 cents in the final 10 minutes.
That is a very rare Friday afternoon event and
suggests Mr. Strong Hand has set up the shorts
perfectly. The lease rates rose back to 14% and
the market went up so fast, so late, the shorts
had no time to cover and get out. Midas du
Metropole thinks we will see $6 silver very soon.
Indiana Jones and The Mine of Boom update:
Indiana Jones has a big smile on his face. When
he was in the bowels of ECU Gold Mining's Valardena
underground silver mine on Tuesday, the ECU
share price was $.29 Cdn. It closed at 40
cents Cdn. on Friday while most precious metals
shares were sinking all week. Indiana Jones sees
ECU at $1 Cdn by early summer and if Midas du
Metropole is right about $9.78 silver by year end,
Indiana thinks this one could go to as high as
$3 Cdn. by the end of 1999.
All the best,
Bill Murphy
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