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

To: d:oug who wrote (41957)	10/4/1999 1:46:00 AM
From: d:oug	Read Replies (2) \| Respond to of 116762

(on topic) WonderLand of the Wonderful New Landscape for Gold I want to know if Nesbitt Burns was correct about LTCM being short some 400 tonnes of gold? I want to know if bullion dealers were short gold that LTCM had borrowed and got caught during this recent gold price rise? I wonder if the Fed is fed up with the whole mess and is trying to put LTCM down for the count as fast as possible, in an attempt to thwart revelations and investigations. I wonder if the recent run up in the gold price was the "straw that broke the camel's back" for the N.Y Fed ? I wonder about all of it. Date: 10/3/99 10:00:13 AM EST From: LePatron@LeMetropoleCafe.com To: dougak Le Metropole members, Bill Murphy, Chairman of the Gold Anti-Trust Action Committee and Le Patron of this Cafe, has served commentary at the Matisse Table entitled, Fed's McDonough, LTCM and GATA. The Fed's William McDonough said this on Friday night: "I'm happy to tell you that LTCM is very close to being out of business." McDonough told an economic conference at the Chicago Federal Reserve Bank. This is just a coincidence that the top dog at the N.Y. Federal Reserve makes a statement like this just 3 days after one of the most chaotic days in the history of the gold market. I am sure it is a coincidence that this statement was made while the bullion departments of the bullion dealers are in complete chaos. Some of these dealers, like Goldman Sachs, were instrumental in the LTCM bailout. Lay offs and firings are rumored left and right in the bullion dealer community. Long Term Capital Management (LTCM) was going gang busters, having RETURNED $2.6 billion to the consortium that bailed it out this year! Wow! Why shut down a money making machine like that ? Why did William McDonough of the N.Y. Federal Reserve make this statement in the first place? Why did it come out at 10:33 on a Friday night? Is it coincidence that it came out a day after Midas pointed out that Nesbitt Burns told all its clients in a conference call this past Tuesday that LTCM was short 400 tonnes of gold. That news was delivered to the Cafe by me on Thursday's Midas du Metropole: Midas -Sep. 30 (Thursday) "... How about this LTCM! Not only did this info surface one time today, it surfaced twice. Nesbitt Burns told its listeners in a conference call today that they had reliable information that LTCM was short 400 tonnes of gold. This goes back to the N.Y Fed bailout of Long Term and when the gold market manipulation started in earnest. At least that is when I caught on to what was going on. But LTCM sent me a notarized affidavit denying they were short gold. This requires serious investigation... The next day my Midas du Metropole commentary, "Bombshell", revealed that the Federal Reserve was actively trying to jawbone futures commission merchants not to press certain banks to honor their gold delivery commitments. - back to current - Later on today, I will serve a Midas du Metropole to the Cafe entitled, "Field Commanders Report to Supreme Allied Internet Headquarters." It will include: - status of "enveloping horn" battle plan of GATA - the diamond formation has pierced them, left AND right flanks advancing - why gold and silver prices going much much higher - GATA prepares surrender terms for THE "Hannibal Lecter" - GATA prepares surrender terms for the rest of the Hannibal Cannibals All the best, Bill Murphy Bill Murphy, Chairman Le Metropole Cafe, lemetropolecafe.com Bill Murphy, Chairman GATA, gata.org