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

To: d:oug who wrote (69923)	5/23/2001 10:31:26 PM
From: d:oug	Respond to of 116752

Gata Nut News Special - aToTooTooTing Gata Bill Update Gata South Africa Watch: Gold Spike Punctures Banks' Cozy Cartel Dow Jones story says banks don't want gold price to rise. groups.yahoo.com By Adam Aljewicz Dow Jones Newswires May 23, 2001 JOHANNESBURG -- The latest run-up in the gold price has left a lot of investment bankers nursing extremely sore positions. ... gold has risen more in the last two weeks than in the past two years. ... the reasons... The usual suspects, I hear you cry. ... seems to be something much more sinister going on. ... the Gold Antitrust Action Committee, under lawyer and gold analyst Reg Howe, is pressing for a full judicial hearing..... If allowed to go to the discovery stage..... to be cross-examined on their motives. ... GATA's case may well be a Trojan Horse, but the case, if it continues, will reveal true motives on both sides. "For people who are short of gold, the high gold price is a disaster," said a South African gold mining executive, requesting anonymity. "... don't print that or I might be shot on the way home," he said. ... whether the case will go to discovery is earmarked for the end of June. ... but who's taken any notice of the WGC in the past few years? Not gold. ... Demand still exceeds mine supply. ... just a cruel joke invented by former governments to..... ... Gold's seen it all before. More significantly, though, are reports that central banks are no longer lending gold to commercial banks as aggressively as before, so lease rates have risen to reflect the relative scarcity on the market, driving up the cost of borrowing the metal. This means that speculators who have borrowed gold in the past at lower prices, expecting to pay it back later, have been heavily squeezed. U.S. institutions are outraged. When gold rallied to $284/oz on Comex Friday both Chase and Goldman Sachs were said to have been selling with every ounce they could muster. Every time it approached $275/oz they sold heavily to drive the price lower still. ... reeks of desperation..... If it does, the banks will be popping..... The bulls, meanwhile, point to tightening lease rates, inflation fears, and talk the Bank of China is converting its dollar reserves into gold -- all factors the banks don't want to know about. The case continues ... in court?

To: d:oug who wrote (69923)	5/23/2001 10:46:06 PM
From: d:oug	Respond to of 116752

Gata's Bill EnCroaching Horn just keeps on aToTooTooTing. Italian magazine article warns of gold price manipulation. groups.yahoo.com From Borsa & Finanza, Italy May 2001 The U.S. Treasury is accused of manipulating the free market. Risks for the international bourses. By Guido Bellosta A trial that starts in Boston..... ... "stand ready to lease gold in increasing quantities." ... of possible manipulation in the price has pushed investors and miners to combine forces through GATA, the Gold Anti-Trust Action Committee, a non-profit organization (www.gata.org). Donations by Americans to GATA are deductible from income taxes. According to GATA the economic laws of supply and demand for gold are being trampled on continually. The annual demand for gold exceeds the supply by more than 1,500 tons. The continuous sale of gold possessed by the central banks has made up for this deficit since the beginning of the 1990s. ... price of the gold, sunken with the clear use of derivatives, continued to go down. The cause of this continuous descent, not justified by the physical trading of metal, is imputed to the speculation effected with the derivatives from international banks. The use of such tools, according to the Office of the Controller of the Currency, could have exceeded $87billion in 1999, more than the value of the American gold reserves. Veneroso Associates estimates that the loans against gold amounted to between 9,000 and 10,000 tonnes at the end of 1999. All this while the gold mined is only 2,579 tons annually. ... Standard Equities of Johannesburg has predicted a collapse of 35 percent of gold mining production by 2008 if the prices remain at these depressed levels. The descent of the price of the gold, according to GATA, gives the false impression of a super dollar, shielding against inflation. Chairman Alan Greenspan and former Treasury Secretary Lawrence Summers have responded to inquiries by GATA by denying intervention in the market. But they have not clarified if such denial also pertains to the very suspicious Exchange Stabilization Fund, controlled directly by the secretary of the treasury. GATA is not limited to bringing into court..... ... threatens the solidity of the largest international banks and the strength of the dollar. Bill Murphy, chairman of GATA, has asked Alan Greenspan, in an open letter, to identify the exact quantity of the gold possessed by the United States. The last audit goes back to the time of Eisenhower. The market hovers on the rumor of a possible decrease in the gold possessed by the United States. Whatever the result of the trial, public opinion now knows the inherent explosive risks in the possible manipulation of the price of the yellow metal. A devastating financial crisis could surprise the markets. The possibility of a positive result of the trial already has produced the first consequences in the American stock market. The largest mining compaines..... ... substantial rises in their share price. The gold bugs will smile after 20 years. -END-

To: d:oug who wrote (69923)	5/26/2001 3:43:23 AM
From: d:oug	Read Replies (1) \| Respond to of 116752

GPM thread's third Curtain Call for ToTooTooting Gata Bill. From: GATA Date: Friday May 25, 2001 Subject: Frank Veneroso's report to the Gata African Gold Summit groups.yahoo.com Dear Friend of GATA and Gold: Frank Veneroso's report... has been posted at: gata.org This document -- titled "Facts, Evidence, and Logical Inference -- A Presentation On Gold Supply/Demand, Gold Derivatives, and Gold Loans" -- is one of the two most important documents in the history of the gold industry, Reg Howe's lawsuit in U.S. District Court in Boston being the other. Frank's is the report that the Gold Cartel does not want..... If you have a color printer, I hope that you will..... If you want to make a killing in the markets, read this report carefully. ... report lays out logically and clearly why the price of gold is going to explode..... ... and some very strong hands have come into the arena to take the cabal on, the big move is under way. ... syndicate of gold buyers knows that Frank and GATA are right. That is why they are taking on the powerful bullion banks. That battle of the titans is on. We are going to win this one. GATA now is getting press about the manipulation of the gold price. ... stories about Reg's lawsuit going into the discovery phase are spreading. ... price of gold is going well north of $600 per ounce..... BILL MURPHY, Chairman Gold Anti-Trust Action Committee Inc.

To: d:oug who wrote (69923)	5/26/2001 3:51:19 AM
From: d:oug	Respond to of 116752

"I have touched the third rail, and it is made of gold." From: GATA Date: Friday May 25, 2001 Subject: The gold game: Electrified by the third rail groups.yahoo.com By Don Luskin Special to TheStreet.com First posted May 23, 2001 on RealMoney.com "I have touched the third rail, and it is....."