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Published on Gold Anti-Trust Action Committee (http://gata.org)

Anglo said hot for Gold Fields; Bank of England choking?

By cpowell
Created 2001-02-27 08:00

9:45p ET Monday, February 26, 2001

Dear Friend of GATA and Gold:

On such a big day for gold it's hard not to dispatch
something to the long-suffering, so I've purloined a
few excerpts from GATA Chairman Bill Murphy's "Midas"
commentary tonight at www.LeMetropoleCafe.com [1]. They're
below. If you'd like to see the whole commentary, visit
the Cafe and consider a free trial membership.

And here's a plug, provided happily, for a great friend
of GATA, Robert Chapman, editor of the International
Forecaster newsletter, since he proposes to help raise
money for GATA's next excursion to South Africa, the
GATA Africa Gold Conference, at which we hope to gather
mining ministry and industry officials from all the
African gold-producing countries.

For three years in the early 1970s Chapman, whose writings
have been distributed by GATA and www.LeMetropoleCafe.com [2],
lived in South Africa and Rhodesia, now Zimbabwe, so he
has more than an ordinary interest in ensuring that Africa
gets a fair chance. For every new one-year subscription to
Chapman's International Forecaster newsletter at $79.95
U.S. funds, $30 will be sent to GATA.

The International Forecaster, some 25-plus pages every
week, is published via email -- except, Chapman says,
when he visits his grandchildren. By surface mail the
International Forecaster is published twice a month.

The International Forecaster is an international
financial, economic, political, and social commentary.
Over the past year the International Forecaster has:

1) Recommended that securities be sold in early April
2000, due to a coming correction. A host of shorts were
recommended.

2) Told subscribers last February to go long oil,
gasoline, heating oil and natural gas, as well as oil
and gas stocks. The commodity recommendations were sold
just prior to topping out.

3) Recommended a short on the Nikkei Dow at 21,000, a
cover at 14,500, a short at 15,000, and a continuing
short.

For a free sample copy of Chapman's International
Forecaster, send an email to BIF@gate.net [3].

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

* * *

Excerpts from "Midas" commentary
By Bill Murphy
www.LeMetropoleCafe.com [4]
Monday, February 26, 2001

The one-month lease rate spiked up again today and was
all over the place. It settled at 3.02 percent. That
means that the one-month rate has advanced 200 percent
in two trading sessions. Pretty extraordinary action
for a market that was supposed to be in the toilet for
the next few years.

Gold toiled a little more than $1 higher for most of
the Comex day when a slew of buying hit the ring. The
price jumped dramatically and kept on going. Hannibal
Lecter (Goldman Sachs) showed up late but was
overpowered.Two of the big buyers today were mega-hedge
fund short Moore Capital and Republic Bank. Moore
Capital was tied to the Citibank/Rubin/Fed Euro capping
escapade exposed by the Frankfurter Allegemeine Zeitung
a few months back. Republic Bank is still dealing with
the aftermath of the murder of its founder, Edmund
Safra, in Monaco....

The word of the moment is "stress." There is stress in
the gold world -- stress from a shortage of physical
gold and stress on the Gold Cartel from GATA.

Word was passed on to me from London this morning that
gold demand for all kinds of bars is smashing -- even
in Turkey, in which the local price of gold has soared
due to the devaluation of the currency.

The physical gold market is on fire and is very tight.
Short-term lease rates do not take off like this for
the heck of it. Cafe members should be aware of what
could happen to your gold or the gold of friends who
believe it is safe and sound....

From I.M. Vronsky of www.Gold-Eagle.com: [5] "Goldbugs are
massing on the border of a weakened dollar. Testament
to an imminent rise in the price of gold is Gold-
Eagle's record-breaking week.During the week of Feb.
17-24, Gold-Eagle experienced a record number of
accesses to its web pages. It soared to a rate of 1.5
million monthly hits.This reflects both the
anticipation of a total collapse of fiat investments
(stocks and U.S. dollar-denominated bonds) and heralds
a substantial rise in the price of gold. The stoic
patience of all will be amply and richly rewarded.
Within a week of gold's finally breaking loose from its
artificial shackles, the free forces of supply/demand
will be reflected in Gold-Eagle's access rate to
immediately soar to more than 2 million per month."....

Gold shares have really been popping lately. The XAU
Gold and Copper Index has risen to 53.33. Today's move
up of 3.3 is the biggest in some time. The senior golds
usually move first in the serious gold moves, then the
juniors and the exploration stocks. The coming moves in
the juniors and good exploration companies are the
casino plays of a lifetime. Ten-baggers will be common.
Some of the quality ones will rise 5,000 percent and
more when all is said and done. The difference between
the coming gold boom and gold share rocket ride and
that of the hyped Wall Street dot.com bust is that the
gold move will be for real and last a long time.


Source URL:
http://gata.org/node/1035