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

To: jimsioi who wrote (19919)	10/7/2002 9:03:33 AM
From: terry richardson	Read Replies (1) \| Respond to of 36161

jimsioi: FYI The original full article by James Sinclair has an additional paragraph at the end which one may only see on the link you provided: financialsense.com by doing a select all command since it is black text on black background. The full article reads as follows: Requiem for the Ruthless The Gold Cartel is Dying May They Rest in Pieces By James Sinclair It is reasonable to assume that JPM is out of the gold controlling business. It may well be that the firmness of gold is a result of JPM closing short positions via beards (agents on the Comex floor and in the world gold cash market to hide the identity of JPM) as money would be called in from all JPM trading operations. This is SOP crisis action. Clearly, JPM is in crisis mode as they cut their staff by 20%. JPM is not alone in a crushing economic squeeze. Commerzbank in Germany, another commercial bank that is a derivative dealer in Germany has lost a quarter of its value last week. All the derivative maniacs commercial banks are bleeding badly. It is also reasonable to assume that the entire gold cartel, all trading entities of commercial banks, may well be headed out of the business of controlling the gold price. Lately their efforts have appeared to me to be more bluff than reality. Sure they will try to bluff the moves but without ample funds their game is up. All the commercial banks have bigger fish to fry. The bigger fish is the interest rate derivative market and massive mismatching. I do not expect that market to implode but it is going to skin many derivative positions alive. No one expects interest rates to tighten, so if I am right about the bond market top, the Grim Reaper is going to descend on whatever profits the commercial banks have left. We are getting closer and closer to gold at $372. I smell Victory around the corner for gold. I believe the gold dealer's cartel is dying and praying no one knows it. One more bear bluff, and I'll wager you the Asian/Islamic bullish force closed the gate on their hands, fingers and things. ============================================= Just thought you might be interested. T.