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To: Enigma who wrote (39327)	8/20/1999 11:25:00 AM
From: Bob Dobbs	Respond to of 116984

DoubleD: Rolled over hedges are neutral for the POG. New hedges however, mobilizes gold today that wouldn't be otherwise, and is therefore negative for the POG. On the perception side, of course, as you point out, it seems all the gold marketeers are talking down the POG. They have something to hide, and that is a very large short position of physical gone from CB coffers. On my last note, I failed to mention the possibility that part of that annual production of 600 tons in the form of bars and coins could theoretically go to CBs to close out their forward contracts. Again, this must be small, because most of this consumption goes to private interests anyway. So maybe there's 200 tons of newly produced gold going to CBs to close out their shorts. Big deal! Even with gold scrap running at 600 tons a year, the shortfall between demand = 4000 tons and production + scrap = 3100 tons is still 900 tons, which must be met by CB short flows each year. So on net CBs are still losing 900 - 200 = 700 tons MINIMUM annually. The 4000 tons annual demand is INCREASING TOO! Again this can only be long term bullish. Bob

To: Enigma who wrote (39327)	8/21/1999 8:49:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116984

12:40a EDT Friday, August 20, 1999 Dear Friend of GATA and Gold: Here is a bulletin from GATA Chairman Bill Murphy to subscribers at www.lemetropolecafe.com and to the gold community at large. Looks like we've caught Goldman Sachs red-handed in its scheming against gold. Looks like they're getting desperate. Please post this as seems useful and send it to the mining companies you own shares in. CHRIS POWELL, Secretary Gold Anti-Trust Action Committee Inc. * * * Thursday, August 19, 1999 The Australian dollar was trounced yesterday. I do not have the numbers in front of me but when I woke up this morning, I thought it was a mistake; it was beat up that badly (63+). The thought running through my mind was that such a weak Australian dollar would tend to bring on Australian producer selling. If the Australian dollar weakens versus the U.S. dollar, the gold price rises in Aussie dollars. This tends to bring on Aussie forward sales of gold. I had just sent an email to Le Metropole Cafe members that I had been told that Goldman Sachs was "going around this morning to producers telling them that hedge funds were going massively short so they should forward sell before it was too late." I wrote that this was peculiar because, before the opening today, I had been told that the hedge funds were lining up on the long side. (The XAU closed higher today.) Well, I just got a call from a good a source as you can get from Australia and he told me: GOLDMAN SACHS WAS THE ONE THAT SOLD DOWN THE AUSTRALIAN DOLLAR. Good old Hannibal Lechter himself. And GATA caught him. How desperate are these Hannibals? They will do ANYTHING to prompt gold selling. The problem is that they are being found out. The reasons to be bullish on gold are overwhelming; yet Goldman "doth protest too much." That is so because they and the rest of the Hannibal Cannibal crowd are trapped with humongous gold borrowings they cannot cover. This is another Goldman Sachs outrage. Bugler, sound "Carpe diem." The Internet is changing the world. Be a part of the change in the gold world. Contact the gold companies to get behind GATA. Momentum is going our way. All the best, BILL MURPHY -END-