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To: Rarebird who wrote (37212)	7/16/1999 1:33:00 AM
From: d:oug	Respond to of 116947

This turkey talk is no elephant joke - if it looks like a turkey and walks like a turkey and gobbles like a gutturally tom turkey, then this recent Bank of England gold sale is no duck, unless one calls it a daffy duck. Not sure which elder statesman of the USA recommended the turkey over the eagle to represent the nations symbol, but I can guess his reasons if he viewed the turkey as a means of sustenance. The brain of a turkey is not only very small, but functionality wise it is very primitive and the sights and sounds received are processed not much more than to have simple steps put forth, with almost no processing. Now to hunt this bird of feather for food would seem easy for a human of advanced brain power to outsmart this extra dumb creature, but as this elder statesman found out it was very hard and he ended up feeling like the dumb one. So what better symbol than that of a creature with great survival traits. But the American bald eagle was voted in as a more deserving iconoclast image to represent the fight for freedom from England. (off topic) How this eagle's usual covering of a white head was mistaken as a head void of hair or feathers, is beyond me. Now we know this bird of prey is a master of flight, but the second vote getter the turkey can also fly like a bird, but they really do not want to as a cow can jump a fence like a horse, they just don't want to. Third place in vote getting was a creature that was found to be too calm and rational under all conditions, and didn't send the right message of what the USA was all about, the Rarebird. Subj: Midas - Brown and Blair, Abbott and Costello Date: 7/15/99 From: lepatron@lemetropolecafe.com To: doug a k Le Metropole members, ... I spent a good 45 minutes talking to a Staff Director of the Senate Banking Committee. She was from Texas too, knew about the Bank of England gold sale and wants to know all GATA has to tell them about our opinion of the size of the gold loans, the potential dangers to the banking system that creates, our gold market manipulation allegations, and why we feel the collusion going on in the gold market is a bigger scandal than Watergate.... .... so what gives here. Blair said it was a BOE decision. The BOE says it was a Treasury decision. The Treasury says it was only a Treasury decision of sorts and agreed to with little discussion. .... A decision that may have DISASTROUS effects on South Africa was made with very little discussion that no one will take responsibility for. Yet, it is so important that Tony Blair will not reconsider the sale, even though he does not even know who made the decision to sell the English gold in the first place. .... it has been clear to us at GATA for months now. Had to be our Treasury or Fed in conjunction with Goldman Sachs and some other bullion dealers!.... .... we understand a bomb went off in the British Consulate in South Africa ( that needs to be confirmed but a good source phoned in that to me today ). What we do know according to a Reuters report today was that: Thousands of South African gold miners plan to march on the British and Swiss embassies in Pretoria on Saturday to protest central bank gold sales which have pushed bullion prices to record lows. .... "The British owe us a lot. They have taken a lot of wealth from us," Mantashe said, noting that South African gold mines helped to finance the British war effort during World War Two. Then there is South African President, Thabo Mbeki, who according to Business Day said, plans to finance debt relief for poor nations make "no sense if in the process you destroy the gold producers". .... How clear can it be that there is an "agenda" behind these gold sales. That agenda has nothing to do with helping poor countries.... .... When will the U.S. press and the world wake up to the fact the gold market today is all about large investment banking houses, the bullion dealers, the U.S. government and the British government fostering gold sales to serve their own selfish interests? They are causing incredible pain and suffering around the world and make the Robber Barrons of our U.S. past look reasoned. Yes, this is a scandal that is bigger than Watergate .... .... according to Standard Bank, physical demand for gold is "staggering". So much for the press reports that gold is not important anymore.... .... for they are making it to just too obvious now and making it too easy for the likes of GATA and others to reveal what a sham this is.... lemetropolecafe.com All the best, Bill Murphy, Le Patron ... and I wonder, the symbol for England's bird is ? ... the middle finger of gold bugs are a pointing to ? ... the dodo bird ? doug

To: Rarebird who wrote (37212)	7/16/1999 2:44:00 AM
From: Rarebird	Read Replies (1) \| Respond to of 116947

Wave Signals Update: Wave Signals Newsletter By Mike Drakulich 7-15-99 Some general thoughts before I get to the individual sections. The big picture(long term) charts are indicating that a major dollar top is at hand, that the CRB(commodity index) is making a major low, that gold is in its final bottoming stages, and that equities are likely making a very important top. It is important to recognize first that I believe these are long term sea changes, and it can be a process of weeks and months for them to manifest themselves. But I do strongly believe they are occurring, and that while I do not "correlate" markets in my trading decisions, it is not lost on me that commodities have been in a huge Bear market while the financial assets(stocks) have been in a major Bull market. And the dollar Bull Market has served to attract capital from around the world to help fuel the huge gains in equity prices. Just look at the price patterns in the dollar index and overlay them over the Dow, since the stock market began this huge run in late 1994, the DXY has been almost lock step. And that correlation has been even "tighter" since the stock market peak in July of last year. Again this is not important for day to day trading, but I believe it is very important for the bigger picture, and we should closely monitor the "progress" of this scenario I have laid out to see if it is in fact correct. If it is it will have huge ramifications in making investing and trading decisions in the weeks and months ahead. STOCK MARKET The most striking data from the past few days is the sentiment as measured by actual money being bet on the markets direction, that is money actually being "bet" in options or invested in funds like the Rydex group. I like this better than "opinion surveys" because they measure real money being invested, not someones opinion. The past few weeks have seen the 10-day moving average of the CBOE put/call ratios hit 10 year extremes of Bullishness. And yesterday we saw the Rydex ratio hit 7.17, I use Rydex Nova+OTC/URSA, that is an all time record and the second time in the past few days we have seen a reading above 7.0! This in my view reveals the incredible Bullish sentiment this recent rally has generated and what is supposed to occur at a top. The other data that has become pretty clear is that the Dow has been doing a 4th wave contracting triangle since the July 6th high, and should now "thrust" to a new high above that 11,237 level, making at least an important trading top, and at a minimum decline back to the 10,400 to 10,500 level. This is a high confidence Ewave pattern, and when combined with the deteriorating market internals of the new highs over the past few weeks, tells me that this is a high confidence interpretation and that this rally should be shorted. The next few days and weeks should be very interesting, good luck. decisionpoint.com