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

To: Ken Benes who wrote (42413)	10/7/1999 7:58:00 PM
From: Terry Swift	Respond to of 116912

Ken: GATA has been saying for some time that the bullion banks, Goldman Sachs in particular, have been feeding producers horror stories of how low they (GS) expected the POG to go, and in some cases were twisting producer's arms to sell forward by threatening their credit lines; all in an effort to keep the scheme going, since it takes higher and higher levels of short sales to keep the price down. It got to the point where, in order to protect their current short positions, many bullion dealers, producers, and hedge funds had to continually increase their shorting and induce others to do the same. Unfortunately, the banks and bullion dealers that instituted and nurtured this ponzi scheme won't have to suffer the consequences of their actions because the Fed will bail them out and the real story of their collusion will never see the light of day. Terry