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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (17057)	8/7/2002 9:52:46 PM
From: Frank Pembleton	Read Replies (1) \| Respond to of 36161

...a must read! Thanks for posting it. Regards, Frank P. - - - - excerpt: a. Aggressive gold lending, which from an economic perspective is indefensible, has filled the supply/demand gap. b. NY Fed gold has been mobilized when the gold price is rising. c. Timing of Exchange Stabilization Fund gains/losses corresponds to gold price movements. d. Audited reports of U.S. gold reserves show unexplained variances. e. Minutes of Fed meetings confirm officially denied gold swaps. f. Rules on gold swaps revised but subsequently denied. However, individual central banks have repudiated the denial. g. U.S. gold reserves have recently been re-designated twice, initially to “custodial gold” and latterly to “deep storage gold.” h. Statistical analysis of unusual gold price movements since 1994 indicate high probability of price suppression. The invalidation since 1995 of Gibson's Paradox -- that gold prices rise when real interest rates fall -- suggests that the real manipulation began then. i. NY gold price movements versus London trading defy odds. j. Timing of huge increases in bullion bank gold derivatives is consistent with gold price declines. k. Rapid decline in U.S. Treasury holdings of gold-backed SDR certificates is not explained.