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

To: goldsheet who wrote (74334)	8/2/2001 12:04:11 AM
From: d:oug	Read Replies (1) \| Respond to of 116756

Thank you Bob, it was harder, took longer than i thought to get that public proclamation from [the list] to identify what will be their eXcuse for doing past gata bashing after gata bashes the Gold Cartel and frees gold. Its similiar to how the CNBC(s) will proclaim innocents and no wrong doings when they supported them bad'ies through a non existence or bashing the gata bill(s)'ies. In both cases they will jump onto the gata band wagon and try and climb onto the top structures and wave them gata flags as if they were the ones responsible to free gold. (to copy from my prior post saying this) ... Louie Dobbs of CNN MoneyLine ... to "cleanse" that show of the guilt... ... helping pump up the recent dot com bubble. ... stated not a single person [knew] dot com was a bubble. [since] "Not anyone who was not already saying each year for the past 5 years the usa economy was a bubble." In what way did [the list] get a "not guilty" coupon ? Bob's statemint delivered it, as in. "I will be most happy to read and reply to your posts, but I will stop at the point I see errors to correct." Now you may ask "What the ### do others in [the list] care about a disrespect token towards oldsheetlinks ???" Oops we just lost Bob, fell off the Turnip Truck. Well folks, its the "... will stop at the point I see errors... " and whats a universal error to them, why its [drum rolling beating] GATA. So as soon as the word bill or gata or nut or ak appears, they are long gone, and i ain't talking about Richard or Mazz. So again, thats why they never walk their talk, and only gata trash talk. Which is just another word for aDuh'ation. Subj: GATA Press Release on Reg Howe Fed/Treasury Revelations Date: 8/1/01 From: LePatron@ Le Metropole Cafe To: Le Metropole Members, ( BW)(TX-GATA) "Swapping Lies: Fed and Treasury Officials Hanging Themselves,'' GATA's Howe Says Business Editors DALLAS--(BUSINESS WIRE) --Aug. 1, 2001-- "Gold Anti-Trust Action Committee (GATA) consultant Reg Howe's August 1 commentary at his GoldenSextant Web site deals a devastating blow to claims by Fed Chairman Alan Greenspan and U.S. Treasury officials that the United States is not manipulating the gold market," says GATA chairman Bill Murphy in Dallas, Texas. "Evidence is mounting that they are trying to cover up..... On June 25 Sen. Jim Bunning of Kentucky received..... "The Federal Reserve is in complete agreement... interfering with the free trade of gold, would be wholly inappropriate." ... It's pretty clear that these ESF operations are authorized. I don't think there is a legal problem in terms of the authority. The statute (31 U.S.C. s. 5302) is very broadly worded in terms of words like 'credit' -- it has covered things like the gold swaps -- and it confers broad authority. ... a direct contradiction to what Mattingly told Greenspan, Reg Howe reports on yet another reference to gold swaps in another Fed minutes, citing: "another official reference to gold swaps, this time in..... It specifically refers to a comment by former Fed Governor, Wayne Angell: "And if you mark our gold to the $358 price, we end up with something like $170 billion. There are opportunity costs because we don't get interest on that gold as we do on our foreign exchange (holdings). That cost is out there also. I would hesitate for us to have foreign currency holdings that have swap puts that just sit there, (which) is now becoming the case for our gold." That finding adds to the importance of another discovery in Reg Howe's startling commentary: "Last October, the European Central Bank issued... illustrating how euro area central banks should account for these transactions." Howe's reference to example No. 3: a "gold swap with the United States Federal Reserve" in which the euro-area central bank swaps 1,000 ounces of gold against US$300,000 in currency, with the transaction to be reversed one month later "at the spot price of gold prevailing in the market at that moment." Howe goes on to explain that if, as Chairman Greenspan and Mr. Mattingly insist, the Fed does not intervene in the gold market, either for itself or on behalf of the Treasury or the Exchange Stabilization Fund, why did the ECB select the Fed as the hypothetical counterparty in its third example? "It hardly seems likely that the ECB would choose for this example a counterparty with which no euro-area central bank had done a gold swap," says Howe. Howe also points out that, "like his predecessor Lawrence Summers, Treasury Secretary Paul O'Neill -- eschewing personal responsibility -- delegates to underlings with no authority to speak for the ESF the task of denying any involvement by it in the gold market. In a letter dated July 16, 2001, to..... "As evidence of U.S. participation in gold swaps accumulates, so do official denials of their existence. ... thus emerges is a very disturbing picture: a decade of secret gold swaps starting prior to the Clinton administration and involving top officials from both major parties." "The Anglo-American war against gold..... A lawsuit has been filed in U.S. District Court in Boston by GATA consultant Reginald H. Howe against..... --30--ltw/da* CONTACT: Gold Anti-Trust Action Committee, Dallas Bill Murphy, 214/522-3411 Fax: 214/522-4432 Le Patron @ Le Metropole Cafe Le Metropole Cafe All the best, Bill Murphy Le Patron Le Metropole Cafe

To: goldsheet who wrote (74334)	8/2/2001 9:04:19 AM
From: long-gone	Respond to of 116756

Catch this One? Right trend. AngloGold to close two mine shafts Sherilee Bridge August 01 2001 at 07:28AM Johannesburg - AngloGold would close two loss-making Free State shafts, putting almost 5 000 people out of work, it said yesterday. The world's biggest gold producer said the Matjhabeng Eland shaft would be shut and the Joel South shaft would be wound down and closed unless a buyer was found by year-end. Bobby Godsell, the chief executive, said AngloGold had changed its mind on the sale of the other Free State mines. "The offers received for the mines were lower than our projections, so we have decided to hold on to them," Godsell said. AngloGold confirmed at the weekend that it had received offers from Harmony Gold Mining and African Rainbow Minerals (ARM), a black empowerment company, for its Free State assets. Harmony reportedly submitted an all-cash offer of about R1,5 billion while ARM was thought to have made an offer of close to R1,8 billion. The value of the assets is estimated at R2 billion. "We had promised shareholders that (we) would either sell or fix them," Godsell said. "We have seen a turnaround in Bambanani, and Tshepong had an excellent quarter. "There is still upside at these operations; why should the assets be more valuable in anyone else's hands?" AngloGold posted a better-than-expected 22 percent rise in earnings in the June quarter. This was achieved despite slightly reduced gold production and a lower received gold price. Headline earnings a share were R5,01 from R4,08 in the March quarter. Analysts had forecast headline earnings of up to R4,40 a share. Gold production decreased by 2 percent, however, to 3,5 million ounces compared with the first six months of 2000. The group said this was due to the disposal of the Elandsrand and Deelkraal mines, west of Johannesburg, which collectively contributed 277 000 ounces in the first half of 2000. The lost production was partially offset by production from its Morila operation in Mali and Geita in Tanzania. AngloGold produced 1,7 million ounces of gold at total cash costs of $185 for the quarter and 3,5 million ounces at total cash costs of $189 for the half year. "There has been a solid focus on reducing costs and there is still some work to be done," said Godsell. AngloGold has just settled a wage dispute with the National Union of Mineworkers, averting a strike that threatened to stop gold production. It said its improved offer translated into a net increase of 6,9 percent to its bottom line this year. Another figure reflected on the bottom line was the group's gold marketing budget. "There is a profound need to develop our product or we may as well stop producing it," Godsell said. He said AngloGold was examining the opportunities being represented on the other side of the mine door, hinting that the group might become more involved in the retail side of the business. AngloGold shares closed R2,80, or 0,93 percent, weaker at R297 on the JSE Securities Exchange yesterday as the overall market ended little changed. businessreport.co.za