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

To: james flannigan who wrote (51845)	4/22/2000 2:41:00 PM
From: baystock	Respond to of 116972

From Gold Eagle forum: Cabal Gold Derivitave Data...Total Positions[Not Itemized; puts/calls] (sector) Apr 21, 21:22 In the fourth Quarter 1999, Chase Manhattan Bank and Morgan Guarantee (J.P. Morgan Bank) reported over US$60 billion in Gold Derivatives between them. Chase reported US$ 22.063 billion and J.P. Morgan reported US$ 38.086 billion. The trailing twelve month sales for Chase[CMB] are US$20 billion and J P Morgan [JPM]US$ 11.2 billion. A neophyte can see that their risky gold derivatives are equal to, or more than double their sales. With Q4 Gold Volatility at decade highs why would these banks risk increasing their derivative positions (JP Morgan doubled their quarterly position)? They could not have known ahead of time about the gold price spike triggering event of the Washington Agreement so why did they assume such a dangerously large position during the fourth quarter of 1999? The simple answer...it wasn't risky to them since they had backing from the Exchange Stabilization Fund and SecTreas. Summers. Gold Derivatives from the Seven Largest US Banks. Don't wait for all the pages to load...scan down (if your internet browser permits) to the appropriate pdf. pages: Q4 1999: occ.treas.gov scan down to pdf. page 26 of 27 Q3 1999: occ.treas.gov scan down to pdf. page 26 of 27 Q2 1999: occ.treas.gov scan down to pdf. page 26 of 27 Q1 1999: occ.treas.gov scan down to pdf. page 25 of 27 For anyone on this board who has been chided for "conspiracy theories", print out the table data and ask you questioner... Why are these banks dealing in so much gold?