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Gold/Mining/Energy : Mongolia Gold Resources -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (3738)	7/28/1999 11:29:00 PM
From: d:oug	Respond to of 4066

...now believe the gold loans have risen to 10,000 tonnes to maybe as high as 14,000 tonnes as a result of information we are receiving about the gold books of various financial institutions. This is dramatic news and we hesitated to bring this up until we received confirming, recent evidence; as these numbers are significantly greater than our previous gold loan estimates of 8,000 tonnes to 10,000 tonnes. Mine supply was only 2529 tonnes last year. Gold demand is around 4100 tonnes. The difference is met mostly today by gold loans and re-cycled scrap supply ( the recent panic producer hedging urged on by the Hannibal Lechter bullion dealers has been partially offset by producer buybacks and the BOE sale has been offset by Asian official sector buying ). There is a dangerously large ( for the shorts ) natural supply/demand deficit. If there are credit concerns showing up in the spreads in all sectors of the credit arena -why should they not be showing up in the gold loan arena? Are the central bankers so stupid that they will let the gold loans grow ad infiniteum with no regard to risk policies- just because it is gold? I don't think so - not with Y2K unknowns lurking right around the corner- and with the protests by poor, gold producing countries about central bank gold sale policies reaching the howling stage. Thus, I suggest to you that the gold market loans are being treated no differently than other credit concerns. Scrutiny and higher rates is the name of the game today due to liquidity concerns - all around the board. "Hannibal Lechter" - take note - the jig is up! Central bankers are finally beginning to realize how much gold is lent out to your crowd and they are finally understanding you might have a significant degree of difficulty finding 11,000 tonnes of gold to pay them back with yearly mine supply totaling about 20% of that number. The world is slowly realizing that the Bank of England sale was a ploy to add physical gold supply to aid the increasingly desperate situation of the gold loan borrowers. The scam is being exposed and when the truth comes out and the cowardly press finally has to admit the BOE sale was what it was, the gold borrowers will run for the hills like a pack of hyenas. And that is what the bullion dealers are: hyenas; they, and the "officialdoms" that have aided their gold market manipulation. Good luck, "Hannibal" in your retreat! You will need it. GATA is going to do whatever it can now to go to the big money crowd, expose your vulnerable gold loan position, and do whatever we can to make you pay as high as price as possible for the destruction you have caused to so many innocent people that had no idea of what you were up to. And Goldman Sachs ( Honcho Hannibal ), you can do whatever you want now and try and get rid of the evidence of your manipulation ( crime ) like Lady Macbeth wished to do. But " Out, damned spot! Out, I say!" - will not work. It did not work for "Macbeth's wife" nor will it work for you, for you have caused too much suffering. This will be some interesting play some day, especially when justice is served. Le Metropole Cafe lemetropolecafe.com