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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Enigma who wrote (39161)	8/17/1999 8:43:00 AM
From: long-gone	Respond to of 116876

Turkish quake disrupts commercial life By Daren Butler ISTANBUL, Aug 17 (Reuters) - A powerful earthquake disrupted commercial life in western Turkey on Tuesday, hitting power and telephone lines and causing damage to businesses in the country's industrial hub. Istanbul share trading was cancelled amid concerns about communications and the gold exchange was also closed. The bond market remained open but trading was depressed. Hardest hit was a major oil refinery run by state-owned Tupras along the Gulf of Izmit where the quake, measuring 6.7 on the Richter scale, sparked a large fire. Firefighters, tackling the blaze from land and sea, extinguished the fire before dawn. The scale of damage at the plant and elsewhere across the region was not immediately clear. There are no other refineries in the region. The industrial city of Izmit, 90 km (56 miles) east of Istanbul, appeared to have taken the brunt of the damage. Many buildings in the area collapsed and more than 300 people have been reported dead across Turkey.(cont) biz.yahoo.com The market SHOULD wonder how much of this gold is lost or at least delayed in delivery. The jewelry industry in Turkey is a very large part of their economy and the overall world supply of jewelry. At least some of that gold which was in process in those many businesses in the jewerly trade is now lost for near all time.

To: Enigma who wrote (39161)	8/17/1999 9:09:00 AM
From: Winzer	Read Replies (1) \| Respond to of 116876

<< I have noticed that Bill Murphy is reluctant to debate.>> This appears to be factual. He must be very with GATA to engage debate. <<Mulroney - love him or hate him - has never been indited or charges with anything. He ran a sleazy government - but is free to be on any board of directors - and Barrick is free to appoint him for his extensive connections around the world.>> If it walks like a duck. A good study will start back in his IOC days. While I never owned ABX, I have owned Placer Dome, Cambior, Kinross and many juniors. I suspect/guess that ABX has to play with the Hannibals beccause of their hedging program. And while I have studied the CSC version of options, derivatives etc, I am far from what anyone would call an expert. That being said, I would only wonder why ABX did not join the other producers when they went to complain about the BOE sales program. In addition, why would ABX discontinue the millenium coin sales program, if it were not to reduce gold demand and protect their hedge position. So my infantile analysis leads me to guess that their hedging/deravitives or whatever is useless if the POG goes higher (?>$US315 as per GATA). So it is in their best interest to support the manipulators and hedge funds in deep kaka to reap the benefits of their strategy and scoop up/pick the meat off (vulture angle) any poor mining company that cannot produce at a profit in this manipulated environment. If as GATA claims, that the Tiger, ABX and GS are betting on a low POG, I would not want to be a ABX shareholder if the manipulation strategy backfires. Unless of course, I'm missing something? I also think that GS and ABX would not dare sue GATA because it would only serve to draw unnecessary attention to the alleged manipulation. So they must grin and bear it. Stated differently, they will not do it for fear of giving ligitimacy to their(GATA's) cause. If they go to court the discovery process will kill them (the manipulators). Who is the law firm advising GATA? GATA actions is not being done in a Vacuum. Winzer