OT: gold-eagle editorial - "Real Gold, Paper Gold and Fool's Gold: The Pathology of Inflation"greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
-- Jack (jsprat@eld.~net), October 15, 1999
Should be a mind-blower Sunday night/Monday morning!!!!!!!
-- Andy (2000EOD@prodigy.net), October 15, 1999.
Just got this in... I spoke too soon it seems!!!
THIS COMES HOT OFF THE PRESS! THIS COULD BE IT!!!!!!!
Good luck all...
12:55a EDT Saturday, October 16, 1999
Dear Friend of GATA and Gold:
GATA Chairman Bill Murphy tonight sent this dispatch to his subscribers at www.lemetropolecafe.com and asked me to send it to you because it is of general interest.
GATA is calling all friends of gold to their battle stations for a special announcement at 7:50 a.m. Central Daylight Time this Sunday -- tomorrow. This is going to be war, and we're going to win it.
Please post this as seems useful.
CHRIS POWELL, Secretary Gold Anti-Trust Action Committee Inc.
* * *
GOLD PRODUCERS ARE DIVIDED BUT OUR 2 HEROES ARE EFFECTIVE
By Bill "Midas" Murphy www.lemetropolecafe.com
Friday, October 15, 1999
This past week I told you that some of the major gold producers had agreed to an unwritten, but formal agreement, to cut their gold production, a la OPEC. My information came to me from the best of sources in the gold producer community.
I just received this email from GATA Treasurer, Chris Powell. It quotes an a usually informed source who posts on the Interet:
"It's illegal to form cartels in America. The government prohibits any such organization. But outside America, it's perfectly legal. Just take a look at OPEC.
"Since the British gold sale, South Africa got real angry and, led by Anglogold, it has been pushing full- steam into creating an international gold cartel made up of non-USA gold producers.
"The rumor buzzing out of London tonight is that an agreement has been reached and will be announced at a big press conference soon.
"If non-USA mining companies announce even a 25 percent reduction in global gold output, it's gonna ignite the gold price beyond description."
This confirms what I have been told.
I also have reported that there are rifts in the World Gold Council. This explains the rift. The overly hedged shorts do not care for a cut in production; their shares will not perform well if the gold price explodes. This also explains why Gold Field Ltd. announced today that it has now covered most of its hedges.
Chris Thompson of Gold Fields and Bobby Godsell of Anglogold have been the powerhouses on behalf of gold. They are standing up to the Hannibal Cannibals and are quietly changing the gold world in behalf of their companies and the gold industry. Gold shareholders, they are your angels. They should be applauded.
Carpe diem is in. Hannibal Lecter is out.
By now you all know that the U.S. Producer Price Index figures released today were far more bullish for gold than anyone imagined. The dollar was beat up and the equity markets were trounced around the world, yet gold was allowed to rally only $2 by certain malign forces. If that did not hit you over the head today about what we are dealing with, get a checkup with a top brain surgeon.
Our camp has been victimized far too long. I would like to echo our sentiments:
WE ARE MAD AS HELL AND WE ARE NOT GOING TO TAKE IT ANYMORE.
The Gold Anti-Trust Action Committee certainly will not stand for the government bailout of the cartel that has ruined so many companies, shareholders, and miners to suit its own greed.
At 7:50 a.m. Central Daylight Time on Sunday morning GATA and the "right flank" will make an important announcement to every gold company shareholder in the world.
-- Andy (2000EOD@prodigy.net), October 16, 1999.
Jack, Andy: Did I read this article correctly? Should the price of gold quickly jump $60 (good for my June call), then my paper position will be exposed as "fools gold" (my call will be worthless due to default)? So if I win, I lose? Please explain.
-- DaveW (firstname.lastname@example.org), October 16, 1999.