OT -- question for the gold bugs here

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

There probably is more than meets the eye here. Maybe someone more familiar with the situation can expand on it. This showed up in a financial newsletter today. Abridged clip:
Then today, the gold market was trading quietly when it dropped a quick $2 just as THE BOND MARKET was breaking after a failed rally. What happened? The XAU was steady as a rock. Well, I found it was a customer of Goldman Sachs that just happened to sell 50,000 oz. at the right time which set off stops.

Not the time and place to get into the whole program yet, but it feels more and more like part of that Goldman Sachs 1,000 tonne short position, that our sources tell us has been uncovered on the books, might be part of a Fed trading account. Goldman Sachs was a featured seller almost every day after the BOE auction. You are aware of that because we reported that info to you. Soon, we will lay out our comprehensive thesis of what we think is going on here.

...here is article 354 from the Federal Reserve System book ( we will tell you soon, but you might want to look and see who is behind the Federal Reserve. Most people have no clue - I know because until recently I had no clue either ): *354 "Transactions involving gold coin, bullion, and certificates"

"Every Federal reserve bank shall have the power to deal in gold coins and bullion at home or abroad, to make loans thereon,exchange Federal reserve notes for gold, gold coin, or gold certificates, and to contract for loans of gold coin or bullion, giving therefor, when necessary, acceptable security, including the hypothecation of United States bonds or other securities which Federal reserve banks are authorized to hold."

So the Fed has the right to trade the gold market.

Perhaps this makes the picture a bit more clear about the BOE sale and Goldman Sachs. The Fed knew about Long Term Capital Management way before it blew up. After all, LTCM had the Central Bank of Italy as investors as well as former Fed officials. That is probably why Alan Greenspan made his "central banks stand ready to lease gold in increasing quantities should the price rise" statement before two Congressional subcommittees on July 24 and July 30 of last year. He knew what lay on the horizon. After all he prides himself on that. His smoke signal statement was a clear one to the bullion boys. You can check the record, but gold cratered before LTCM blew up and after his statement.



-- Tom Carey (tomcarey@mindspring.com), June 25, 1999

Answers

Tom, if you want almost up-to-the-minute news flashes on this kind of stuff -- and quite knowledgeable commentary -- go to www.gold-eagle.com and click on forum. I have been going there frequently these past few days, getting all the insights on how the price of gold has been affected by supposed selling by the Bank of England, attempted selling by the IMF (being debated in U.S. Congress), etc. Those folks on that forum know their stuff!

-- Jack (jsprat@eld.net), June 26, 1999.

Strange goings-on.

I feel somewhat reassured at having physical in my possesion - my gut feeling is still that gold and silver will go ballistic in the not too distant future, certainly before mid 2000 IF the banking systems survive (which I doubt...)...

-- Andy (2000EOD@prodigy.net), June 26, 1999.


It is my general feeling that some big changes are coming to the global financial system, and that these changes will not necessarily wait until the year 2000 arrives.

In addition to the forum at gold-eagle cited by Jack, USA gold also has an excellent forum at:

http://www.usagold.com/cpmforum/

In particular at this forum "Aristotle" is doing a five part miniseries on the current gold/oil relationship. It is terrific. Part 1 appeared on June 20 at 15:31;Part 2 on June 23 at 19:56;Part 3 on June 24 at 17:53, and Part 4 on June 25 at 18:06. Part 5 will be complete today, but I am not sure that it will be posted today.

In addition there is a great source of very good information at

http://wwww.lemetropolecafe.com

At this site, membership is free for two weeks, but $99per year thereafter. I have not yet givem them th $99, but we are now in a very high stakes game, and I need all the information that I can get.

-- dave (wootendave@hotmail.com), June 26, 1999.


For more chatter about gold check out

Gold Discussion for Investors and Market Analysts

-- Brian (imager@home.com), June 26, 1999.


good page for goldbugs:

The Golden Bear (Investments): http://www.provide.net/~aelewis/gold/goldbear.htm

-- alan (foo@bar.com), June 26, 1999.



Ever wonder why Abby Joseph Cohen has been RIGHT fo so LONG ???

Ray

-- Ray (rya@totacc.com), June 26, 1999.


Anyone that is aware of what is happening with the manipulation of gold by the powers that be that is not buying silver and gold deserve the same thing that the polyannas will be getting in the not to distant future. Why is gold at its lowest price in 20 years when demand is at its highest since the beginning of time? The smart money has been buying the XAU and the PM's for the last 3 months. Especially the last week. Why would the second richest man in the world (Warren Buffett) be buying silver if he does not know its getting ready to explode. (179,200,000 ounces that is documented) You will never get another chance in YOUR LIFETIME to accumulate great wealth, as you have in this time period.

-- no spam (Spam@spam.spam), June 26, 1999.

Ever wonder why Abby Joseph Cohen has been RIGHT fo so LONG ???

Ray,

what do you mean? who is this guy?

thanks

-- Andy (2000EOD@prodigy.net), June 26, 1999.


Andy, Abby Joseph Cohen is an analyst for Goldman Sachs. She has been predicting correctly, an ever higher bull market for stocks for many years. Scroll down to the "Bulls" section in this Link and click on her name for some background.

Ray

-- Ra (ray@totacc.com), June 26, 1999.


Thanks Ray - I'll check her out...

-- Andy (2000EOD@prodigy.net), June 27, 1999.


I wonder if she mudwrestles?...

-- King of Spain (madrid@aol.com), June 28, 1999.

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