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Oil is just pennies from $55, while gold is up all of 80 cents
11:59p ET Thursday, October 14, 2004
Dear Friend of GATA and Gold:
MineWeb's Gareth Tredway has written an interesting
report about the prospects for a 20-year boom in
commodities arising from growth in China and India,
more interesting for an observation about the potential
for market rigging within that boom.
Tredway quotes a South African market analyst,
Michael Power, saying this about Asian commodity
buyers:
"The rest of the world thinks they are a one-way trade
and you can basically sell anything in terms of
agricultural and mineral sources to them, and they
basically had to take the price that you are selling
them at. The Chinese have learned that if they
accumulate a little bit of stock, more than they
absolutely need in the immediate sense, they can pop
bubbles as they arise and basically give particular
speculators a bloody nose. I suspect they may well
have been behind the base metals wipeout that we
saw today, and I think it did start in Shanghai."
The Chinese are smart folks and getting smarter
as they get richer. They know what's real and what's
... just paper and pretense. And if they don't
already know exactly how to play paper and pretense,
they are surely learning fast.
You can find Tredway's report here:
http://www.mineweb.net/sections/base_metals/353466.htm
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS
Free sites:
http://www.cbs.marketwatch.com
http://www.capitalupdates.com/
http://www.silver-investor.com
http://www.thebulliondesk.com/
http://www.goldismoney.info/index.html
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
http://www.investmentrarities.com
http://www.kuik.com/KH/KH.html
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm
(In English)
http://www.resourceinvestor.com/
Subscription site:
http://www.lemetropolecafe.com/
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
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WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS
Blanchard & Co. Inc.
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Michael Kosares, Proprietor
US (800) 869-5115
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11742 Manchester Road
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info@mocoin.com
314-965-9797
1-800-280-9797
http://www.mocoin.com
Resource Consultants Inc.
6139 South Rural Road
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Metalguys@aol.com
Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.swissamerica.com
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com
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