for gold bugs from gata

  1. 470 Posts.
    By BILL MURPHY, Chairman
    Gold Anti-Trust Action Committee Inc.
    Thursday, December 5, 2002

    This morning I received a phone call from a London-based
    gold producer CEO. Few come more highly regarded than
    this gold pro. I had not spoken to him for many months, so
    the call was a pleasant surprise.

    He told me he had read the new report by GATA's Reg Howe
    and Mike Bolser ("Gold Derivatives: Moving toward
    Checkmate") and remarked that it was "stunning." He said
    he was sending it all over London -- to major investors, the
    press, gold community, et al. I could almost see the big smile
    on his face. He went on to say that he had just returned from
    Zurich and that GATA was the talk of the gold world in
    Switzerland. His exact words: "That is all anyone wanted to
    talk about."

    After falling off my chair and picking myself up, I got this

    "I just got off the phone with my commodities broker.
    He knew a whole bunch about GATA and He was very upbeat
    regarding the news about the Bank for International
    Settlements as reported by Reg, high on PMs, and
    down on JPM. He seemed to be with the program
    -- ours that is. He claimed to have a friend at The
    Wall Street Journal who was stunned by Reg's info.
    His friend at the Journal claimed that you are soon
    to get some ink/interview in the WSJ. Any truth?"

    Wouldn't that be nice! No phone calls from the WSJ
    yet, but it should not be too long. The work of Reg and
    Mike is THAT GOOD and cannot be denied. It proves
    that GATA has been right all along. Can you picture that
    Gold Cartel bugler getting read to sound retreat?

    What is so important is that the investment world now
    has proof of the size of the gold loans and swaps, the
    MASSIVE short gold position of the bullion banks. The
    banks cannot get out of that position. As we have stated
    for years, the banks are trapped.

    One does not need be an Einstein to understand the
    implications of the gargantuan short position. A monster
    squeeze is coming. Those who are long gold and the gold
    shares will make fortunes. Who would not want in NOW?

    Besides, what is the risk here? Maybe $15 on the downside.
    The upside is $500, $1,000, or even $1,500. Is that a trade
    to pass up? Once investors around the world realize what
    has transpired in the gold market and understand the
    predicament of the Gold Cartel, those numbers won't seem
    goofy at all. It will take a giant move in the gold price to
    clear the market.

    This is key and worth repeating:

    It is one thing for me to throw around talk like that. It is
    quite another for big-league investors to study the work of
    Reg Howe and Mike Bolser. They cannot help but want to
    be long gold and the shares after doing so. The Howe-
    Bolser report has been out only ONE DAY. Because of its
    significance to the investment world, it is spreading all over
    the place. There will be a myriad of investor committee
    meetings regarding gold and this report in the weeks to
    come. It is hard for me to imagine that most investor
    committees will decide against moving into gold.

    Do I sound excited? Yes, indeedie. We are almost there.
    The Gold Cartel can huff and puff all they want to. We got

    If you have not read the Howe/Bolser masterpiece, "Gold
    Derivatives: Moving Toward Checkmate," you can find it here:

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