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

To: Rarebird who wrote (49489)	2/23/2000 4:10:00 AM
From: d:oug	Respond to of 116752

The gata beat goes on. Hear thru the grapevines Bill Murphy of GATA talking... "... gold traded higher all day monday and again tuesday during the Asian trading hours, as well as during the early European trading session. Then, right on cue, the New York bullion banks came in and sold the market down about an hour before the Comex open. Just following the same orders from the same general who has been leading the bear troops the past month, I guess. This general gets an "A" for consistency and an "F" for originality. Gold traded $2 lower all day in New York and then rallied going into the close. A good sign as the higher Comex close brought gold all the way back and up against a downtrend line (the top of a now bullish flag formation). I say now because today's close makes it more likely that we could come in tomorrow (or very soon) with gold gapping sharply to the upside and running. The bears gave it all they had, and yet gold closed to the plus side. Why a gap or a big move up soon: The bears are running out of ammo. They have already used the Ashanti settlement story twice. The fact that the bear camp has had to tout this effected negotiation twice within a week is a sign of how desperate they are to come up with a bearish case these days. The case for an explosive gold market is off the charts. Only a surprise central bank sale, stunning the market out of nowhere and at the frantic urging of U.S. officialdom, can prevent the price of gold from trying to catch up to palladium. Silver continues to build its base. We have a KABOOM coming here too. The Dutch sold 7 more tonnes of their gold last week. That only leaves them with 5.5 tonnes to sell until September 26, 2000. The bears will be getting no help from future Belgian gold sales either: As GATA Chairman I would like folks to know that our camp does not relegate all bullion dealers to the "Hannibal Cannibal" camp. Many pro-gold folks, including myself, have good relations with many bullion dealers. I know several personally and like them very much. Our gripe is with a select group that have caused so much intense aggravation for so many of us that thought we were investing in a free market based on traditional supply/demand fundamentals. I would also like to differentiate between the dealers. The bullion dealers that have sold traditional products to the producers should be just fine. However, the ones that have sold the long term structured products (the exotics) are the ones showing stress. No reason to get into it all now, but the "fancy dan" hedge programs sold by certain very aggressive bullion dealers failed to take into account sky high option volatilities and liquidity in longer dated forwards. What am I missing here about this Ashanti/bullion bank lovefest? Gold is trading just above $300. Ashanti has some $470 to $570 worth of margin calls somewhere around these price levels. What if the price of gold goes to $400, $500 or $600? How large will the margin calls be then? It took the bullion bank syndicate almost five months to resolve this situation and gold is quiet. Regard palladium. Historically, the price of gold has followed the price of palladium. What if it does so again? This Ashanti agreement is a recipe for DISASTER down the road. Apparently, Australian gold mining magnate Joseph Gutnick did not get the inside scoop from Chase's Eckert. On Friday, at his Centaur Mining & Exploration Annual Meeting, he said that the outlook for a long-term sustained gold price rally was the most promising since the mid 1980s. Reuters -"I think the outlook for gold is the most positive it has ever been in my 15 year career, even though the prices are still depressed," he said. ... something does not smell right. My guess is that there are growing financial problems building behind the scenes and they will erupt just when the average investor least expects them to. When that scenario unfolds, it is likely to unleash a gold buying panic." [End of Eavesdropping on Bill Murphy, Chairman of GATA, thru the GrapeVines] My golden predictions for year 2000. ==================================== (1) William J. Murphy III Chairman Gold Anti-Trust Action Committee will be Time's Person Of The Year. (2) William J. Murphy III nominated for Nobel Peace Prize to reflect the gold element in the battle between Good & Evil. (3) The USA mints a 100 dollar gold coin with the the face of William J. Murphy III on the front, and the art representing the GATA movement on the other side. (4) People magazine, along with above Time magazine, has on their cover William J. Murphy III holding a gold bar while standing inside Fort Knox as he watches the gold being returned to the vaults. Doug

To: Rarebird who wrote (49489)	2/23/2000 7:20:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116752

While I'd rather gold would never again move than see this happen: FEB 21, 2000 China 'ready to fight US over Taiwan' BERLIN -- China is ready to engage in war and even nuclear conflict with the United States should fighting break out over Taiwan, Der Spiegel magazine reports on the basis of a supposedly-secret Chinese file. "Document No. 65", allegedly produced by the military sub-committee of the Chinese Community Party's central committee, discussed the possible course of a war over the disputed island claimed by China. "We would have to make a military intervention as early as possible, before the American troops are fully operational," according to the document cited by the German magazine. Faced with US bombardment of key sites and military installations, the document stressed that China has roughly the same level of conventional forces and would benefit from a fight close to its own territory. While arguing that the US would have little interest in starting a nuclear war over the island, the file said that Beijing would be ready to turn to its nuclear arsenal should circumstances demand. "We are ready to defend every square centimetre of our country," said the document. Dated August last year, the analysis would appear to have been drafted during a low point in relations between Beijing and Taipei caused by Taiwanese (cont) straitstimes.asia1.com.sg

To: Rarebird who wrote (49489)	2/23/2000 11:32:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116752

Tuesday February 22, 6:33 pm Eastern Time Chase helped Germany get dollars in World War II NEW YORK, Feb 22 (Reuters) - Chase Manhattan Corp. (NYSE:CMB - news), the No. 3 U.S. bank holding company, said on Tuesday one of its predecessor banks helped Nazi Germany obtain U.S. dollars for German marks that may have come from the forced sale of Jewish assets. While other countries were not accepting German marks, Chase was one of several banks that participated in a so-called ``Rueckwanderer' program that enabled the German government to raise between about $25 million to $35 million in the mid-1930s. Named after the German word for someone who has left but might return, the program let German-Americans interested in returning to Germany exchange U.S. dollars for marks at a favorable rate, giving the German government U.S. dollars. Germany had created ``blocked' marks that could be used domestically but had no value internationally while its currency was not accepted abroad.(cont) biz.yahoo.com

To: Rarebird who wrote (49489)	2/23/2000 2:19:00 PM
From: IngotWeTrust	Read Replies (1) \| Respond to of 116752

GATA is a Political Organization. This confession of this political organization is specifically spelled out in writing, in Murph's own statements a/w/s the written mission statement also published on here (SI) by GATA "literary mouthpiece, Chris Powell," one of GATA's 3 legal incorporators, and current financial beneficiaries. What is unclear is if they are a "registered" Political Action Committee. Maybe a small difference, but your posts would indicate "nuances" are important considerations to you. O/49r