CALLING ANDY! And All Other GOLD BUGS!greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread |
It Looks Like There Might Be Somthing To My "RUMOR MILL GOLDMAN SACH'S" Thread Down Below! I'm Sure This is The Strongest One Day Showing For The Metals Since October!!!GOLD Closed Up $22.00 At $312.00 On The Comex! (+7.6%)
Silver Closed Up $00.31 At $5.60 On The Comex! (+5.9%)
FEDERAL RESERVE BOARD REPORTEDLY CONSIDERING EMERGENCY SESSION
by Sherman H. Skolnick
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A reported emergency has been developing regarding two major banks and a major bond and gold trading firm. The highly secretive Federal Reserve, America's PRIVATE central bank, is reportedly considering the possiblity of an emergency session. The necessity apparently of an emergency session has been caused in part, or in whole, by the following:
[1] Rumors have apparently been sweeping Wall Street that one of the world's largest, if not THE largest bond and gold trading firm, Goldman Sachs, is possibly going under. This stems reportedly in part from the U.S. Treasury's announcement that it is reducing 30 year Treasury Bond supply. Goldman Sachs reportedly has been heavily speculating in derivatives, that little-understood, highly dangerous tinkering with assets inside of assets inside of and linked to underlying assets. {Remember how Orange County California went bankrupt by their reported speculating with these mysterious manipulations called "derivatives".] Goldman Sachs reportedly has been in the forefront of worldwide efforts to knock down the price of gold and reap huge profits at the expense of workers and stockholders of the gold mining industry.[A South African gold mine went into bankruptcy in 1999 when the "wreck the price of gold" crowd, including the Bank of England, forced gold down to just over 250 dollars per ounce. The average cost of production of gold, by the best, most efficient mines, is about 285 dollars per ounce.]
The derivative gambling, in the trillions of dollars, is a complex formula of tricks, involving gambling on gold and oil and Treasury Bonds, all interwoven like a group of Chinese magic boxes inside of boxes inside of boxes.
When gold shot up from 252 dollars per ounce to 330 dollars per ounce in the fall of 1999, some contended at the time that Goldman Sachs and other gold trading houses were heavily SHORT on gold and could not come up with the gold supply to make good the LONG speculators that reportedly included worldwide financial pirate George Soros. At the time, there was reason to believe that Goldman Sachs would invoke an emergency clause, used when there are storms, wars, and revolutions interfering with complying with contracts, called Force Majeure. [For background see our prior story: "Bank of England and the Gold Crisis", on our website.]
[2] Goldman Sachs is reportedly in a sinking boat with Germany's huge financial ship, Deutsche Bank, and the worldwide bank octopus Bank of America. This trio are major players in Foreign Exchange, called ForEx, trading and speculating in foreign currencies. If the emergency continues, the Federal Reserve, according to some bond and gold experts, would have to come up with some 600 Billion Dollars, as a rescue attempt for the reputed trio of bust financial players. According to other financial sources, the Federal Reserve can come up with 130 Billion dollars, that is, some say, "the limit of the number of lifeboats the Fed can supply in a hurry". Beyond that, some experts contend, the Fed would have to order the printing of a flood of paper money, falsely masquerading as the "U.S. Dollar", in fact, Federal Reserve notes backed by nothing but hot air.
[3] Do not expect the sphinx-like Federal Reserve to admit there IS an emergency and that they are considering an emergency session of their highly-secretive deliberations.
Some extremely well-informed financial experts have their views posted on a website called: www.LeMetropoleCafe.com [a summary can be obtained, but further details require you to be a subscriber]. They quote a bond dealer as saying "something should happen because this thing is lethal for all asset swappers".
[4] Bank of America, headquartered in San Francisco, already is facing billions of dollars of problems as the result of a suit filed in U.S. District Court in San Francisco. The details of that suit have been publicized primarily only by us. It is a class action on behalf of victims, heirs, and beneficiaries, of World War Two whose assets were stolen by the Nazi puppet government of Croatia, the Ustasha, and later secretly deposited during and after the war reportedly with the Vatican Bank. [Emil Alperin, et al vs. Vatican Bank, No. C99-4941 MMC, in the U.S. District Court, Northern District of California. Details of the suit as well as the complete First Amended Complaint are on our website: www.skolnicksreport.com under the title "Vatican Bank Sued For Alleged War-Crimes"]. Little-known by the public, and rare if ever mentioned by the monopoly press, Bank of America, and its parent holding firm, Bank America, are owned jointly by the Vatican Bank, the Jesuits, and the Rothschilds. In recent years, also a major owner of Bank America reportedly have been the Japanese mafia, the Yakuza which own a major interest in most every bank in California. Seldom reported, the Yakuza are major dope traffickers in the U.S.
What may come of the situation, which some financial experts contend is an emergency or an emergency developing? An inflation may develop as a result of the Federal Reserve ordering up a huge supply of paper money to be used to bail out the reported sinking ship containing Goldman Sachs, Deutsche Bank, and Bank of America. The price of gold would go UP if the so-called "U.S. Dollar" goes DOWN. Further, Clinton would welcome an emergency, real or fabricated, so he could stay in office beyond the expiration of his term. Those close to him have been quoted as saying they heard Clinton say he would not mind staying beyond his term by some emergency. And will an emergency, real or fake, intefere with U.S. Presidential election? Stay tuned.
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Since 1958, Mr.Skolnick has been a court reformer. Since 1963, founder/chairman, Citizen's Committee to Clean Up the Courts, disclosing certain instances of judicial and other bribery and political murders. Since 1991 a regular panelist, and since 1995, moderator/producer, of one-hour,weekly public access Cable TV Show, "Broadsides", Cablecast on Channel 21, 9 p.m. each Monday in Chicago. For a heavy packet of printed stories, send $5.00 [U.S. funds] and a stamped, self-addressed business sized envelope [4-1/4 x 9-1/2 #10 size] WITH THREE STAMPS ON IT, to Citizen's Committee to Clean Up the Courts, Sherman H. Skolnick, Chairman, 9800 South Oglesby Ave., Chicago IL 60617-4870. Office, 7 days, 8 a.m. to midnight, (773) 375-5741 [PLEASE, no "just routine calls]. Before sending FAX, call.
Skolnicks Report Home Page
-- Possible Impact (posim@hotmail.com), February 04, 2000.
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Thanks goes to Possible Impact For Refomating My Original Posting To Make It Readable!
-- Zguy (its@bubble.con), February 04, 2000
Wasn't there a post a week or so ago about Bill Gates buying silver? It was attributed to some sort of new technology that was coming out or something.... I'd like to know where Gates gets his insider information. Maybe it wasn't attributed to new technology afterall..Hmm. Just wondering.
-- Plato (Okie_Rascal@yahoo.com), February 04, 2000.
This is Bloomberg's take:Top Financial News Fri, 04 Feb 2000, 3:26pm EST
Gold Has Biggest Gain in Four Months After Placer Dome Adjusts Sales Plan By Claudia Carpenter
Gold Soars After Mining Company Announces Sales Plan Change
New York, Feb. 4 (Bloomberg) -- Gold soared 8 percent, the biggest gain in four months, after Placer Dome Inc., the world's fifth-largest producer, said it was adjusting its sales strategy on expectations of higher prices.
The Vancouver, British Columbia-based company said it will no longer sell borrowed gold, a hedging strategy that's based on expectations of lower prices. That accelerated a rally in gold futures sparked by a government report that showed the U.S. economy heating up. ``It looks like mining companies are pulling out of their hedge programs left and right,'' said Carlos Perez-Santalla, a gold trader at Hudson River Futures in New York. ``It's positive for gold.''
Gold for April delivery rose $23.10 to $313 an ounce on the Comex division of the New York Mercantile Exchange, the highest closing price since Oct. 15 and biggest one-day gain since Sept. 28. Prices have risen for three straight sessions, leaving them 7.5 percent higher than a year ago.
In London, gold for immediate delivery rose $22.85 to $310.30 an ounce.
Traders follow the hedging strategies of mining companies looking for signs of where gold prices are heading. Placer Dome's announcement boosted confidence that prices are heading higher, traders said.
Prices rose in early trading after the U.S. Labor Department said the U.S. unemployment rate fell to a 30-year low in January, raising concern for higher salaries and consumer prices. Investors sometimes buy gold as a hedge against inflation.
-- Homer Beanfang (Bats@inbellfry.com), February 04, 2000.
Homer,I'm Betting that Placer Domes anouncement has a lot to do with the Class Action Lawsuit filed against Ashantis board of Directors yesterday in New York!
"Times They Are A Changing!"
This is from Bill P's "Gold Hedging" Thread from Yesterday:
For those unfamiliar with hedging strategies it is the practice of getting paid today a fixed price for a commodity you deliver some time in the future. Goldman Sachs and other investment banksters have convinced many gold mining firms to hedge their gold production as a means to raise revenue due to low gold prices. In the gold market the mines hedged, hedge funds hedged, central banks lent gold reserves as collateral for the banksters to lease as collateral for gold short sales. They were successful as long as the price fell and they could profit by covering their short at lower cost or prices stayed in a narrow range and they could roll the expiration of their short sales forward in time.
Trouble is now there is over 4 years of global gold production sold short. And with todays action in the bond market - Japanese dumping T- Bills and US Treasury buying in huge volume - inflation is very likely to push the hedge books and short sellers over the cliff.
The following email alert just in from Bill Murphy at Le Metropole:
"CLASS ACTION LAWSUIT FILED AGAINST ASHANTI OFFICERS AND BOARD OF DIRECTORS " "A class action lawsuit was filed today by a New York law firm against the Board of Directors and officers of Ashanti Goldfields Co. in Ghana, Africa. It is for shareholders that purchased Ashanti stock between July and October of last year. The details will be all over the press tomorrow."
"This is a big event for the gold market. In essence, the suit was filed because of their excessive hedging policies. That now puts all Board of Directors of gold producers that they are on notice that they will be held accountable if the hedging policies of their firms are overly aggressive and subject the shareholder to penalties as a result of a rising gold price."
"YEAH!"
"If the supposed smartest minds in the gold world - the investment bankers led by Goldman Sachs were advisors to Ashanti - and they blew it - how can any Board of Director of any gold company be comfortable with any kind of excessive hedging structure for a company that they oversee? Almost no one thought the $84 price rise in late September was possible. That fast a price rise was not even put in the computer models that were presented to the Ashanti officers for option volatilities by its Goldman Sachs advisors."
"Yes, indeedee. This is big news for the big picture. With 10,000 tonnes of gold loans outstanding, what are the shorts going to do if a bond market run up like today occurs in the gold market again. Another yen type move! Another $84 gold type blitzkrieg move! What if that move is $284 in gold next time? Yen could be found. Money can be printed. Gold? Is the United States willing to donate the 8,000 tonnes we supposedly have in Fort Knox (or under Fed/Treasury auspices) to bailout the collusion bullion dealer crowd? How will Greenspan and Summers explain that to the Congress and the American public? How will the dollar fare in that type of scenario? Yikes!"
"Hello Barrick Gold. I have a question. When is your next hedging seminar planned for your Board of Directors?"
Le Metropole Cafe
-- Bill P (porterwn@one.net), February 03, 2000
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-- Zguy (its@bubble.con), February 04, 2000.
This just in From a LeMetropole cafe e-mail Bulletin:Goldman Sachs, Deutsche Bank and Merrill Lynch Rumors Continue:
Speaking of Goldman Sachs. Rumors continue to circulate that they, Deutsche Bank and Merrill Lynch are the ones with the trading problems due to the steeping yield curve.
Goldman Sach's share price was down almost 6 points yesterday in an up stock market and is down another 1 3/8 today.
The economic news this morning showed that the U.S economy is still booming with wage pressures creeping into the picture.
The bond market has turned negative once again. Frank Veneroso noted this morning that all the Treasury has to do to fix the inverted yield curve bond dealer bad trade problem is to announce that they will buy back shorter dated notes as well as the 30 year Treasury bond.
However, Icarus noted that means that Treasury Secretary Summers has to eat crow. The spin this morning by the establishment was that the President told the dealers that this was coming when he announced U.S. debt was to be reducted.
Which will haver precedence here - the ying or the yang?
Is it not interesting that the gold market surges WHEN THE BULLION DEALERS THAT HAVE BEEN MANIPULATING THE GOLD MARKET RUN INTO MARKET PROBLEMS.
COINCIDENCE?????????????????
How obvious can this manipulation be? The question now is will they lose control of the market again like they did last September.
It is inevitable that they will. Now or later and the price of gold will shoot up towards its natural suuply/demand equilibrium price of $600 per ounce.
The oil market has reversed to the upside just now and is trading in contract high close ground.
Stay tuned!
All the best,
Bill Murphy Le Patron www.LeMetropoleCafe.com
-- Zguy (its@bubble.con), February 04, 2000.
Gold mining companies are forced to cover their short position.Placer Dome covered today. Barricks Gold covered in part but their exposure is bigger and takes longer so it looks like gold will continue to move upward.
Goldman Sachs is said to have bought over 1,000,000 ounces of gold call options today to try to cover their exposure.
Merrill Lynch, Bank America and Deutsche Bank are very much exposed to the bond market losses and are said that they must sell somethings soon to cover.
Gold and silver up to today b7 7% and more to come.
While I am happy about my precious metal gains, this is a extremely precarious financial disaster. The biggest "too big to fail" players in the world are looking down into the abyss and their is no one with the resources to lend them a hand.
This does look like it will get much worse before an equilibrium stabilizes. This could still lead to a 9 on the DC Y2K impact scale.
It may not be too late to buy gold or silver; check your phone bvook for local coin dealers and get the physical.
-- Bill P (porterwn@one.net), February 04, 2000.
Platinum and Palladium have already gone up earlier and more. 2 hours until Sydney opens (see Kitco). Yabadabadoo!May be too late to buy; we told you to buy earlier. Now is time to sell a bit. If they fall, buy back with proceeds from your sale. If they rise more, sell a bit more.
Remember, to make money, you have to buy low and sell high -- not like most people who wait for excitement and buy at the top, then get disullusioned and sell at the bottom.
-- A (A@AisA.com), February 04, 2000.
Hey, Deutsche Bank!Isn't that Yardeni's home turf?
Perhaps his Y2K chickens are comin' home to roost, if they bet on his Y2K panic-mongering.
-- Imso (lame@prepped.com), February 04, 2000.
For the whole enchilada article, go here:Energy/Bond Turmoil/Gold/Platinum/Palladium/Martin Armstrong
http://csf.colorado.edu/Forums/longwaves/feb00/msg00172.html
At the lemetropolecafe the subscription is $99 a year, but you get a free 2-week subscription....
-- profit seeker (profitseekerr@profitseekerrr.xcom), February 04, 2000.
Thanks Profit Seeker!Li nk
-- Zguy (its@Bubble.con), February 05, 2000.