Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (29687)	10/19/2000 12:07:50 AM
From: pater tenebrarum	Read Replies (5) \| Respond to of 436258

Joey gets it: Joe Bataglia just announced on his national radio show: ( uponroof ) Oct 18, 15:04 "If you look at the action of gold and you look at the action of the Dow, at the key turning point where the Dow was down 400 and some odd points, and gold was up 3-4 dollars, 5 dollars what ever it was. AT THAT POINT THERE WAS AN INSTANTANEOUS AND SIMULTANEOUS CHANGE IN DIRECTION IN BOTH OF THOSE MARKETS. I'll tell you what I believed happened. I think that the big investment bankers, and there's probably a hand full of them who's names I won't mention. I'll bet they borrowed gold from central banks, sold the gold, used the cash to come back in and buy the key companies. What were the key companies? JP Morgan, IBM, Intel, Citicorp, Chase. Those were the key dow components that caused this enormous rally. I'll bet if we had access to the trading information you'd find out that it was some of those very same companies that came in, got a huge amount of cash from somewhere. Where could you get a huge amount of cash virtually free? The only place I know where you can get nearly free money is to borrow gold from a central bank and turn it into dollars at 1% interest a year....." Joe also said he heard through the grapevine information to lead to the above theory. END