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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: bully who wrote (8158)	1/1/1999 7:01:00 PM
From: Grant Movold	Respond to of 25548

Happy New Year Everyone. I've been quiet - just lurking listening to the Psycho-babble that goes on here. Drills and anticipation of the drills will indeed drive this stock. Facts - can you imagine MDIN and facts in the same sentence - will finally justify the stock price - either at these levels or substancially higher. Don't get me wrong a few friends and I hold a substancial interest in this stock and indeed are still long. (which means we are still waiting to sell for a profit). Here is some interesting reading from PETER GRANDICH. From The Desk of Peter Grandich - December 31, 1998 > >I am delighted to say good-bye to 1998. > >It has been my belief that the gold market seem to have a cap being placed >on it for quite sometime. It's not sour grapes from a gold bull but when you >live and die on a market, you develop a sixth sense. I have felt there was >some sort of extra effort to depress the gold price.I have been "smelling a >rat" for some time and this article only fortifies my nose still works! > > AFTER 1998, I TRULY WISH EVERYONE A HAPPY NEW YEAR! > > The following is an excerpt from > an article written by John Tompkins. > The full article can be viewed at > iionline.com > > Is Alan Greenspan Manipulating the Gold Market? > > Almost to the day, the second great manipulation of the gold market > began 132 years after the first. > > On September 24, 1869, a pair of rascals named Jim Fisk and Jay > Gould cornered the New York gold market, forcing short sellers to > cover at any price. Around the same week of 1998, a man named > Alan Greenspan began controlling the price of gold by lending the > metal to investment bankers who sold it short each day to keep the > market price from rising above $300 a share. > > Fisk and Gould were out to make millions squeezing the short sellers. > Greenspan's objective is to protect our economy. When the Fed head > organized the bailout of the Long Term Capital Management hedge > fund, a part of the problem was the fund's surprisingly big short > position in gold. > > Then it turned out that other hedge funds and institutional speculators > were--and many still are--short of 8,000 to as much as 14,000 metric > tons of gold, many times annual production. If even a few of these > shorts were forced to cover their frantic buying, it would send gold > skyrocketing by hundreds of dollars an ounce. > > Can we prove this? No. But Fed Chairman Greenspan said that he > would control the gold market if he had to. He spelled it out on July 24 > in little-noticed testimony before the House Banking Committee. The > chairman was trying to downplay the risk that some derivative > contracts might produce a squeeze on short sellers.... > > The remainder of the article is available at > iionline.com > >