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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (14856)	2/11/2002 2:39:04 AM
From: Moominoid	Respond to of 74559

From the GATA dudes (Newcrest & SGW are hedged - therefore Newcrest must be overpriced - as soon as I get some spare cash I'm buying puts :)): Le Metropole Members, A quick update. I have arrived in the Nation's Capitol a day early to work the phones tomorrow regarding our luncheon at The National Press Club on Tuesday. Might as well go all out, especially after the wonderful GATA piece in Insight Magazine by Kelly O'Meara. As Insight is part of the Washington Times organization, the GATA story will be all over Washington by next week. It is still not too late to put the heat on members of the press around the world to have an affiliate in Washington attend the GATA luncheon. Please send them a copy of Insight to wake them up. They must RSVP to LePatron@LeMetropoleCafe.com Regarding the gold market. Japan is closed for a holiday, which will give The Gold Cartel a chance to take gold down. Maybe they will, maybe the won't. No matter, they are fighting a losing battle. Look for hedge buy-back programs to pick up. Barrick was off visiting Morgan last week (so I am told). They are going to look like Humpty Dumpty if they do nothing when gold flies. What about Newcrest and Sons of Gwalia in Australia? They are hedged years out. Let us not forget about Ashanti, too. Hedging at these price levels is going the way of cigarette smoking, most unfashionable. The CEO's who do not cover forwards much, just might not be around in next year. The intense short covering to come will terrorize the cabal. Remember months back when AngloGold changed its tune publicly and seemed to give a kinder, gentler take towards GATA and those GATA supporters who chatted with Bobby Godsell by email. Check the record. I said something was up, something changed. Morgan's Frank Arisman is on the Board of Anglo. Bobby's change in tone was about the time Enron was going "tapioca." Two plus two! Morgan has to know what this will lead to in the gold market, especially with Reg Howe and GATA breathing down their throats. So does BG. More on that later. Meanwhile, this came in today from Nick Ferris of J-Pacific Gold about Japanese gold buying and one of his largest shareholders, Jipangu: Bill, During a conversation with one of my colleagues at Jipangu this past week, I asked about the recent news regarding the Japanese public's sudden rush to gold. He replied that it was for real and that some of the stories are truly astounding. He mentioned that one story making the media rounds is of an elderly couple that showed up at the Tanaka Precious Metals outlet in Tokyo's Ginza district with a large burlap sack filled with small Yen notes totalling some US$300,000. Apparently, the couple purchased gold bars thus transferring their entire life savings from Yen into gold bullion. I have been associated with the Jipangu group now for some four years. Given the recent news from Japan, I truly marvel at the incredible foresight of Jipangu's founder and President, Mr. Tamisuke Matsufuji. For many years, Matsufuji has been predicting a severe crisis of confidence in the Japanese financial system. He maintained that once the crisis became acute, the average Japanese consumer would seek gold as the final refuge for their savings. Matsufuji knows the Japanese psyche and believed that once the move to gold commenced, it would hit the market like a tsunami and the resultant stampede would last for years. This is no small matter considering that the Japanese public are the world's greatest savers. Perhaps there is an even greater dynamic now brewing. Japan is the cultural icon of Eastern Asia. As much as America dominates many global cultural trends, all things Japanese are the focus of the growing middle class in the cities of China, Korea, Indonesia, Malaysia, the Philippines and the other nations of the Far East. They love Japanese consumer goods, literature, animation, TV, movies, fashion, food, etc. The latest fads from Japan quickly spread to the large urban centers throughout this vast and most heavily populated part of the world. Without a doubt, the accelerating stampede of the Japanese public into gold will not go unnoticed by the peoples of Eastern Asia. Regards, Nick Ferris noula@shaw.ca Without a doubt, Nick. Cafe members and GATA supporters might like to know that Jipangu is one of GATA's most significant financial supporters. To wrap up: The legendary Jim Sinclair says two closes above $305 and away we go. He could not be more right. MIDAS <A HREF="http://www.LeMetropoleCafe.com/entrance.cfm"> Le Metropole Cafe</A> All the best, Bill Murphy Le Patron www.LeMetropoleCafe.com