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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: J.E.Currie who wrote (2502)	12/8/1998 7:05:00 PM
From: Bill Murphy	Read Replies (2) \| Respond to of 81114

J. E., Thanks for your info. Will have some for you in Midas tomorrow. Has to do with so many deflationists calling for $200 gold. Our team takes the same info and calls for $400. No straddling the fence for either side. Unless you are Martin Armstrong of course. Saw his technical piece the other day. His monthlies turn bullish on a close of $386 or better. Great monthly signal. His price range for gold is $200 to $1,000. If anything happens in between he is right. Oh, how these gurus cannot stand to be wrong. The longer a guru is a guru and believes his own crud, the more useless he ( or she ) is because of ego. Bill

To: J.E.Currie who wrote (2502)	12/9/1998 6:14:00 AM
From: Zardoz	Read Replies (2) \| Respond to of 81114

One Questions 1) De Crespigny is the CEO of Normandy, Australia's Top Gold Mining Company. Don't you think that the covering of a 4.1 million ounce short position, 127.5 tonnes, may be the reason for the recent run up in the Spot gold, and the volatility in the futures contracts, from Aug low? I would be curious as to whether this person was trying to create a market run, and got blown back before it took off. Now that he's covered his shorts, what's left holding the GOLD? My guess... little. Dec 10 is when I SPECULATE that the XAU's will either baseline, or crap out. As of today all the action fit nicely into yesterdays analysis. mypage.direct.ca So much so, that it really didn't pay to draw, just extend the light blue lines, draw a small vertical black line between them. And draw the top yellow stochastic line down to the right. Oh yeah, it did drop below the Dark blue 66 support.... Now consider this rumour that I heard today from a futures trader whom was writing his Future Traders liscense as I was completing my Conduct test: {Pharaphased} "Before the Euro forms, we expect the CB's not to sell US Dollars, but to sell GOLD to buy the Euro. They will hold the US dollars against a failed hedge position of the Euro. Selling Dollar would make them vulnerable to economics weakness, if the Euro crashes. Without Dollars as a secondary safe currency they are at risk" Naturally, like any good gold-bug, I climbed the fence and posed the question: 'Why wouldn't they sell the US Dollar, and then if the Euro crashes and burn, buy the Dollar back at a much cheaper rate, as Gold would be higher?' Seemed obvious to me? Reply: "Because if the Euro crashes, everyone would be rushing back to US dollars faster than the Euro CB could liquidate their gold holdings, and Gold would be crashing at the same time." I shock my head, and gently said: 'yeah, but...' And he said, "This is why the lease rates have gone up lately. The CB have allowed a large short position to be created, so that when the Euro comes on line, they will slowly raise their rates, and the excess demand on short covering will create a steady open market for the excess supply to be purchased. Knowing this, is why the traders have backed out of the gold market, and a small volume can be used to move the spot price. We know that the gold is coming soon, why cover?" So then I asked why the US Dollar fallen so much against the Yen, when their economy sucks so bad.{I knew this answer before I asked} :"Simply that the USA was not getting the respect from Japan that they wanted, so they bought the YEN over a few days, just to break the Japan carry rate. Once broken it would take months to rebound. And the currency traders will not take on poistions to aid Japan in their "export" our way out of the problem, because they might loose money to USA when the push again." His limit for GOLD was Jan 16, 98 {$265} Low on the year, $250 june. And than we talked much longer about Gold, Silver, Oil. I now know even more than I knew just 24 hours ago. Take what you want, leave what you don't. I know for one, that I'm going to have to reconsider much of what I predict for lower limits. It's great to hang out at these security tests places, you can pick up a lot. When you find the right person. He also said the DOW will not reach 10,000 during the whole 1999 year. I disagreed, I said it would hit 10,200 near March time, and fall to lower than 7700 by April.