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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (3409)	7/29/2002 11:18:48 AM
From: Jim Willie CB	Respond to of 89467

gold: Fri close #302.5, now #304.7, so gold is down??? this is part of the misreporting of gold it is extremely clear that gold is holding above #300 after the gold cartel doubled up last week on its naked short position from 130,000 to about 220,000 contracts the real story is that given the US$ is up to 107.3, gold is holding up excellently, most excellently both HUI and XAU indexes are up 4% today so far (a continuing testimony to liquidity driving all stocks) Barclay's in London claims gold is dead again JPMorgan and Goldman are now twice as vulnerable to a rise in the gold price just an aside on oil stocks the major oil companies, like Exxon and others are down recently I think it is more than just a lackluster (but not weakening) crude oil price in the last month I think it has to do with a possible upcoming MidEast attack by the USA in the 1974-1978 period, the major oil importers got hurt badly in their stock price they dont explore jackshit anymore they are pure tools and partners of the Arabs and OPEC not to mention a few other big suppliers with renewed risk to the MidEast supply lines, major oil stocks are vulnerable but not the Canadians / jim