To: d:oug who wrote (44145 ) 10/28/1999 12:30:00 AM From: d:oug Respond to of 116816
...which should tell you just how sick their position is... Date: Tue Oct 26 1999 16:03 ted butler (Musings) ID#370209: Copyright ¸ 1999 ted butler/Kitco Inc. All rights reserved "Since I'm Barrick Gold's biggest critic, I thought it only fair to acknowledge when they have a good day. They made $150 million on their short today, which is just about double what their earnings were for the entire third quarter (which should tell you just how sick their position is). So they and just about every miner out there, along with the FED, the CFTC, the banksters, etc, had a good day because gold dropped 10 bucks and the pressure seems to be off. If they can make it 'til the Dec options expire in 2 and a half weeks, and even 'til the end of the year, when they can blame defaults on Y2K, is their common immediate goal. It's so bizarre and somewhat funny to see this uniform desire and urgency for lower prices. It feels to me that the fate of the world financial structure rests upon gold and silver not going higher. Even oil, the world's most important commodity (where just 18 days of world production equals the annual production in dollars for both gold and silver combined) jumped 100% in short order with no severe disruptions and no official wringing of hands. What does this tell us? It tells me that there is such a mountain of unpayable derivative paper in gold and silver, that the establishment world is united against any rise. Hell, they weren't this united against Hitler or Saddam. I especially love to hear them all pontificate about the importance of free markets. How long they can keep the charade going is anyone's guess, but don't, for one second, assume they can dislodge the truth forever. Get the physical and expose the lie." I received a phone call late today....this out into the open. In my role as Chairman of the Gold Anti-Trust Action Committee, I am going to meet with them in the near future... The reason for going into this is to let you know that there are many that "Are Mad As Hell And Are Not Going to Take It Anymore." GATA is looking into what action can be taken to force the N. Y. Fed's hand and that of the bullion dealers. The heat is going to intensify on them. They will have less and less room to maneuver. Their selling will dry up. And, yes, they will end up fleeing out of the "back end of the enveloping horn." Time to be long and get on board for a moonshot. All the best and keep the faith. Bill Murphy, Chairman Gold Anti Trust Action (GATA) gata.org Le Patron, Le Metropole Cafe lemetropolecafe.com