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

To: Sergio R. Mejia who wrote (7310)	2/5/1998 11:54:00 PM
From: Francois H. Gaston	Read Replies (1) \| Respond to of 116762

mmmmhhhh! Any gold manipulation as well? Here is Sergio R. Mejia's post which connects Silver to Warren Buffett to Phibro to Salomon Smith Barney to Travelers Group and to Berkshire Hathaway and an exerpt from David H. Gold "futures" from Investor's Business Daily (February 4, 1998) connecting gold to David Rinehimer (who is NOT is favor of gold a the moment(!) and to Salomon Smith Barney (David Rinehimer is their director of futures research!). Is the futures' branch at Salomon Smith Barner the real great instigator of this hoarding of silver... but publicly putting down gold at the moment... while possibly helping Buffett to hoard gold at a cheap price? Oohlala! I like it. Here is the post and the IBD expert. (1) POST To: Michael (7309 ) From: Sergio R. Mejia Thursday, Feb 5 1998 6:12PM EST Reply # of 7319 Silver prices end higher for fifth day ( Is Gold to follow it?) February 5, 1998 NEW YORK (Reuters) - Silver prices climbed higher for the fifth straight day Thursay, but ended off the day's best levels after news the London Bullion Market ssociation (LBMA) had eased delivery terms for silver bullion to alleviate a shortage of the metal for immediate delivery...... .....Phibro Inc. admitted Wednesday it was the broker for Buffett's silver purchase Phibro vigorously denied the lawsuit's allegations through counsel, and the New York Mercantile Exchange said there was "absolutely no basis" for allegations of manipulation...... .... Phibro is the commodities trading arm of investment bank Salomon Smith Barney, which is part of the Travelers Group, and is, in turn, partly owned by Warren Buffett's holding company, Berkshire Hathaway. (2) IBD's content (Futures, DH Gold, 02/04/98, p B9) ...Gold and Rinehimer describe what we all already know... South Korean gold sale, CB selling, EMU, 30$ recent rally is mainly due to shorts covering, few want to establish long position in gold, Mutual funds short covering buys are about done...Rinehimer, courageously, thinks that "much of gold future lies with the central banks and that if central banks can exercise some restraints, then gold could be able to hold above $270 or $280 an ounce"... Rinehimer is also "keeping an eye on the stockmarket. Gold could get a boost if stocks get rocked, and investors search for a new haven".... Give me a break, Rinehimer!... I thought somebody in your position would be more imaginative in describing the possible forces at play...and help us out. IMHO, groups of people are planning to keep gold down a while for them to accumulate some more. ... Just a guess... I think that we could be manipulated by this IBD future section (IMHO of course). I wish Mr. Starr and Independent Council could be spending their million of $ in looking into the *silver - Buffett - Phibro - Travelers Group - SalomonSmithBarney* - Rinehimer - gold connection** instead of trying to nail Lewinsky and Clinton (although that could help gold!). I just hope that Rinehimer did not give us a reverse Vinick play! and that "they" are hoarding gold right now while making the general population believe that we would be lucky to see gold staying above 270-280.... Future will tell and it will be fascinating. Good luck all. Gaston