Here. Fill'er up.

-- ..- (dit@dot.dash), October 05, 1999

Answers

No, lets see, who said that gold was a "barbaric relic"?

-- King of Spain (madrid@aol.cum), October 05, 1999.

Here is one reason the market is running.

It is a War, watch out their can be collateral damage....

_______________

Gold Anti-Trust Action Committee Inc.

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232 of 233 9:42 PM

Mon 4 Oct

Subject: An appeal and a warning From: gatacom- Click Here!

12:05a EDT Tuesday, October 4, 1999

Dear Friend of GATA and Gold:

If this comes to you as an attached file and you don't like downloading those, as I don't, you can read it on the Internet at:

http://www.egroups.com/group/gata/232.html?

A few hours ago GATA Chairman Bill Murphy issued this letter to his subscribers at www.lemetropolecafe.com, to GATA, to all friends of gold -- and to all enemies of gold too.

As we at GATA watch the gold wildfire spread across the world, against all the wisdom of the financial and political establishment and the conventional news media (even as it singes those same people), we salute the hundreds of you who have used the Internet to liberate the truth behind the gold market. We could not be accomplishing ANYTHING without the Internet and your help, could not be accomplishing ANYTHING by conventional means -- by ordinary publishing on paper and ordinary mail delivery around the world. No, that would have been too cumbersome and expensive and we would not have known where or how to start.

But the Internet has been as liberating in our age as the Gutenberg Bible and his movable type came to be 500 years ago. Thanks to the Internet, no power on Earth now can stop anyone from getting his message out, nor stop anyone from associating and communicating with like-minded people anywhere, instantly.

But I beg you to understand that the struggle to liberate gold, to restore its rightful place in the world economy -- as the eternal gauge of government currencies and as a universal and competitive form of money -- is only beginning. Those who have suppressed the price of gold through collusion, subversion of markets, and abuse of government power will have to act dramatically against it in the next few days to preserve their control of the world economy.

We plan to fight them to the end.

So we need your help more than ever now.

If you like what we've been doing to educate people and liberate the price of gold -- and, may I add, doing for free, since our committee members are all volunteers -- won't you please consider making a financial contribution? Especially consider a contribution if the revival of your precious metals shares permits you to afford one now.

Because of our educational and social-justice purposes, GATA is a tax-exempt organization in the United States under Section 501-c-3 of the Internal Revenue Code. So contributions to GATA are tax-deductible in the United States.

Contributions are used to publicize GATA's cause; support our the research and investigation of our law firm, Berger & Montague of Philadelphia; gather information; and educate the public about the gold's crucial monetary function.

Contributions may be mailed to the Gold Anti-Trust Action Committee Inc. in care of John D. Meyer, Treasurer, at Box 885, Great Barrington, Mass. 01230 USA.

To build excitement for our cause and our fund raising, GATA has produced a print of the colorful GATA painting that represents us on our home page at www.gata.org.

The GATA painting is the work of Absolut vodka artist Alain Despert. The prints made from it are of the highest quality: a Fine Art Giclee print on Hand-Torn Arches paper, 20 1/2 inches by 32 inches, signed and numbered by the artist.

We will ship a print of the GATA painting to donors of $500 or more, including those whose multiple donations reach that amount cumulatively.

If you want a print, please tell us so and include an additional $25 for shipping to addresses in the United States and Canada and an additional $50 for shipping elsewhere.

And if you send a contribution, please let us know if you would like to have your name and hometown placed on the GATA List of Honor at www.gata.org.

Now on to Midas Murphy's latest dispatch.

Please post this as seems useful.

CHRIS POWELL, Secretary Gold Anti-Trust Action Committee Inc.

* * *

A DISPATCH FROM HEADQUARTERS: DON'T GET OUT OF POSITION!

By Bill "Midas" Murphy www.lemetropolecafe.com

10p CDT Monday, October 4, 1999

On behalf of the Supreme Allied Internet Headquarters, I thank our Internet Field Commanders for all the intelligence they have provided our forces. The Axis troops have big money, influence, and power. We have the truth and the Internet on our side. What you are all doing is changing history.

The gold market has been manipulated and orchestrated down to an unnaturally low level. Many of you all know that now. The bullion dealer camp that has participated in this manipulation has fed bearish propaganda to the press, which they have eaten up because of the reputation of the sources that fed them. Yes, the establishment has spread disinformation to foster its collusion.

It is either that, or some of the most highly regarded financial institutions in the world ALL have much less brainpower than they let on. Could ALL these MBAs and hundred-millionaires be that ignorant of the real fundamentals of the gold market? Except for Lee Ann Baker of Solomon Smith Barney, I can't think of another member of this crowd who did not indulge in the bearish diatribe. By the way, Lee Ann has been a fan of Frank Veneroso for some time.

But enough of that. As you know, for many, many months I have reiterated that a highly placed field commander has been telling me that that the bullion banks and central banks have written massive numbers of naked calls (options) around the $315 strike price level. There is no telling how high the price of gold could go if that price point was breached. That is why I spent this weekend preparing a "Midas" essay that explained the gold dynamics for you as best I could. My imperative: DO NOT GET OUT OF POSITION!

I have just received three emails from Internet field commanders. It is superb intelligence. December Comex Gold is trading at $330 right now -- up $12 over the Comex close. More importantly Hannibal Lecter and other "Hannibal Cannibals" were seen buying heavily late in the Comex session.

This was PANIC BUYING.

Not only are hedge funds that have borrowed gold in deep trouble, but these bullion dealers have written all sorts of structured deals for producers to enhance their forward sale price. That is why many of the producers have reported (in glowing terms) what geniuses they were for getting $60-$100 higher a price than the then spot price for their future gold production.

The Hannibal Cannibal bullion dealers advised them to go for it. After all, gold was never going up, according to these brilliant soothsayers.

The hubris of these arrogants goes off the charts. They conned the gold producers, the press, portfolio managers, and just about everyone.

I can present you the following facts about today's trading:

Spot gold was trading $314.50 bid going into the Comex close today when someone bought so much gold that it rallied to around $316, violating the key $315 resistance level that I have been telling you about for a long time. The Hannibals were seen buying in size late in the day. The gold lease rates ended up at a hefty 5-6 percent for the day. Borrowers of gold are being slaughtered just as they were at the end of the yen carry trade. The yen they could buy back. Gold?

We believe the gold loans are more than 10,000 tonnes. Annual mine supply is only 2,550 tonnes. How do they get out of their gold loans? Many thousands of naked calls are written on top of that. How will they be covered? This is what I told 3 Congressional Committees in Washington this past spring. I urged them to look into the gold loan situation before big problems developed.

Many of you know that there are a gazillion 390 Dec Comex calls outstanding. We know for a fact that most of them are uncovered calls. A well known floor trader told me that if $390 is taken out to the upside, the Comex could be in VERY SERIOUS TROUBLE.

It gets worse.

This was posted by the well-informed Sequin at the popular Kitco gold site:

"Option trader got fired.... You guys can't even start to imagine how much blood there is.... Bullion banks are in panic mode -- derivative positions too big to cover, no liquidity, fear about medium-size mine defaults because of overhedging and margin calls. Very bad words in board rooms these days. Banks hesitate to be the one who pulls the trigger on mines since they could start a cascading default chain reaction. UBS is dead. Goldman is dead. Morgan is -----ing razor blades but not dead yet. Morgan stanley disappeared from radar screen. They NEEEEED gold to go down. There is about one-year production of buy order between 280/295. If these guys start to panic, it might get interesting. But too much blood is not always the best you can hope for; beware of central banks stepping in. If there are small-to-medium mines defaulting, we could see contagion on the XAU. So I would prefer an orderly rise. I know this is too much to ask for and I am a little bit excited."

This man knows his stuff and is highly regarded by my associates.

The banks are being seriously queried about their gold market exposure. Today Chase Manhattan Bank (which, field commanders, tell me has huge problems), downplayed the gold problem to banking analysts.

First Call is an institutional service that provides portfolio managers the opinion of buy-side analysts. Chase, which is in the spotlight big-time, has told the analysts that it has no problems because, in essence, it had its producer clients hedge; that is, the downside was protected and now with this gold move up, the credit ratings of the gold producers will go up.

More on this Chase hype soon. My violin is strumming away.

Choke, choke, choke.

Chase is Newmont Mining's Hannibal. Field commanders tell me Chase talked Newmont into a "structured deal" forward sale at $270 just when the manipulation crowd was looking for more gold supply to continue its manipulation games.

Newmont Mining, what do you think of the Hannibal Cannibal strongarm tactics now? What do your loyal shareholders think? In Barron's you said "no one saw this coming." Garbage! Your representative met with me in Dallas and with Frank Veneroso in New Jersey. We told you it was coming.

I don't blame Newmont; they are decent people. Hannibal forced them to do what they did. How would you like to have been a member of Newmont's Board of Directors? Chase Manhattan tells you that the price of gold is going down. It is getting touch-and-go for you. Hannibal: "You know, Mr. Director, if the price of gold does do what we say it is going to do, you might be held personally liable by shareholders if your company goes down for the count."

That is what the Hannibal Cannibals did to Newmont Mining and to other gold producers. These guys were given little choice.

GATA still loves you, Newmont. But get behind us now. Stand up for your shareholders.

Supreme Allied Internet Headquarters is pleased to announce Hannibal Cannibals are in full retreat. They have accepted GATA's ultimatum of unconditional, dishonorable surrender and are fleeing out the back end of the "enveloping horn." We will honor our terms and not close the back end of the horn on them. (Perhaps that is where we differ from Shaka, the great but brutal Zulu chieftain,who employed this strategy)

Again, I congratulate you all. Your persistent, informed intelligence has been right on the money. Only the U.S. Federal Reserve can bail out the bad guys now. But GATA has the heat on the Fed. We are watching their every move. We know the commission firm the Fed cajoled not ease up on the Hannibals. Congress already has opposed the IMF gold sale idea, for good reasons.

A big political year is coming up. If the Fed tries to bail out its cronies, we will rush to the political opposition of the present administration and wave a red flag. GATA's recent findings have already been sent to three congressional committees.

For nine months GATA told you that we would be RELENTLESS and that we would not let down the thousands of people in the gold community who said they were counting on us. We promised them an all-out effort and results. We are keeping that promise.

Our camp will be more gracious than the Hannibals have been. We will show mercy on them and let them out of the back end of our "enveloping horn." When the price of gold hits $340, we will accept their surrender.

Just a few more surrender terms. First we want them to admit that Frank Veneroso's analysis was right and that Gold Field Mineral Services was wrong.

Second, we will insist the talented, loquacious bullion dealer apologist, Andy Smith, come up with the title for the GATA movie. Smith told clients over and over that GATA's complaints were more fanciful than a Julia Roberts movie.

Speaking of movies, Andy, my dad befriended Tom Cruise of Glen Ridge, New Jersey, when he was a busboy at the Glen Ridge Country Club. He took Tom to his first professional football game at Giants Stadium and they shared a good camaraderie. Tom was commuting into New York at the time, studying acting, and thought he had a shot at being a decent actor.

I toast all you soldiers of the Internet and thank all of you who fight so the truth be known.

All the best.

BILL "MIDAS" MURPHY www.LeMetropoleCafe.com

-END-

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-- Helium (Heliumavid@yahoo.com), October 05, 1999.

Wow,

Thanks Helium,

We are living in interesting times.

Question: What should we expect form the Hannibal Lecters this week?

Where does the term "Hannibal Lecter" come from?

-- Rick (rick7@postmark.net), October 05, 1999.

NOTE: 5:53PDT just before HK gold opens CRB has gold off $2 at $324..... It never JUST goes UP or JUST goes Down...

-- Helium (Heliumavid@yahoo.com), October 05, 1999.