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

To: Alex who wrote (30289)	3/18/1999 12:59:00 PM
From: lorne	Read Replies (1) \| Respond to of 116897

Russian banks freeze accounts Even courts can't force banks to give depositors money Glad this can't ever happen here. :-) detnews.com

To: Alex who wrote (30289)	3/18/1999 2:57:00 PM
From: long-gone	Respond to of 116897

If they are out to get the Czar's gold that don't wash with the B.S. told on CNBC that thiere is bunches of gold in the world.. Why go after womething there is an excess of??????? We know.

To: Alex who wrote (30289)	3/20/1999 4:56:00 PM
From: Bill Murphy	Read Replies (1) \| Respond to of 116897

GATA Goes to Washington-The Privateer Le Metropole members, The outrage and awareness of the recent obvious manipulation of the gold market is growing. The highly regarded "Privateer" in Australia is as outraged as we are. the-privateer.com, is his address. Here is a portion of what he had to say about the subject: "The announcement that the margin requirements on Gold options would be halved came on May 11. On Monday, President Chirac of France suggested that the IMF sell Gold to help the poor. On Tuesday, President Clinton agreed with him. On Wednesday, Robert Rubin did too. By the end of the week, everyone who is anyone, including Mr Camdessus of the IMF, had chimed in with words to the effect of: "What a good idea! Why didn't I think of that?" Yes, I know - Give me a break! The "threat" to sell IMF Gold is a very old one. It crops up at fairly regular intervals and has been doing so for many years now. By itself, this threat would not have been enough to knock the $US Gold price down as far as it has fallen this week. But combine it with the fact that Gold "shorts" have had the price of their insurance (using options) halved, and it did the trick. If you have been following this commentary for any length of time, and you think that the "Preamble" above about Gold being "governed" is in any way fanciful, the events of the past week should, at the very least, have you re-examine your conclusion. A very fine thinker named Ayn Rand once made a very good point which applies perfectly to the shenanigans in the Gold markets over the past week. "Don't bother to examine a folly - ask yourself only what it accomplishes." If you are of the opinion that Gold doesn't matter, that it has nothing to do with the financial system, which can get along far better without it, then the "folly" has accomplished its purpose. It is obvious that the global financial "powers that be" are scared to death of Gold. If you have no idea why they should be, then the "folly" has accomplished its purpose. The problem of this particular folly is that the manipulation of the Gold price keeps bringing Gold itself to the attention of anyone who wonders why it is deemed so necessary to trash the price. If you want something ignored, don't keep bringing attention to it. The financial "powers that be" would far prefer that method, but apparently, the situation was such that they feared they couldn't risk "benign neglect". The "Captain" of the Privateer is correct and GATA thinks they have just made a big mistake and we intend to take it to the financial "powers that be". Allow me to tell you a bit more about my conversation with the Staff Director for the Joint Economic Committee in the U.S. Congress. He told me that the Committee was at "war" of sorts with the Treasury, headed up by Robert Rubin, former top dog at Goldman Sachs. Jim Saxton's website for the Joint Economic Committee is www.house.gov/jec and explains many of their positions. They do not like certain ways the IMF is operating and disagree with a decent amount of the IMF's policies. From a tactical standpoint they know they can only focus on certain issues with their "war" with the Treasury. The IMF gold sale proposal is one that they have chosen to highlite the errant ways of the IMF. They feel it can be a lightening rod for them. Your letters to Congressman Saxton proved that. They are scheduling a meeting for myself as GATA's representative for mid April ( after the Easter recess ) with Jim Saxton and some others so that we can present our views on what is really going on in the gold market. They have visited gata.org and are very interested to know more about us. We have a real opportunity here to expose the gold manipulation that is occurring right now to some very powerful people in the United States Congress. I will do my best to convey what many of you have put in writing and just to tell them the truth. All the best, Bill Murphy Le Patron and GATA Chairman