You are here
FLASH: Goldman Sachs trashed Aussie dollar
12:40a EDT Friday, August 20, 1999
Dear Friend of GATA and Gold:
Here is a bulletin from GATA Chairman Bill Murphy to
subscribers at www.lemetropolecafe.com and to the gold
community at large.
Looks like we've caught Goldman Sachs red-handed in its
scheming against gold. Looks like they're getting desperate.
Please post this as seems useful and send it to the mining
companies you own shares in.
CHRIS POWELL, Secretary
Gold Anti-Trust Action Committee Inc.
* * *
Thursday, August 19, 1999
The Australian dollar was trounced yesterday. I do not
have the numbers in front of me but when I woke up this
morning, I thought it was a mistake; it was beat up
that badly (63+).
The thought running through my mind was that such a
weak Australian dollar would tend to bring on
Australian producer selling. If the Australian dollar
weakens versus the U.S. dollar, the gold price rises in
Aussie dollars. This tends to bring on Aussie forward
sales of gold.
I had just sent an email to Le Metropole Cafe members
that I had been told that Goldman Sachs was quot;going
around this morning to producers telling them that
hedge funds were going massively short so they should
forward sell before it was too late.quot; I wrote that this
was peculiar because, before the opening today, I had
been told that the hedge funds were lining up on the
long side. (The XAU closed higher today.)
Well, I just got a call from a good a source as you can
get from Australia and he told me:
GOLDMAN SACHS WAS THE ONE THAT SOLD DOWN
THE AUSTRALIAN DOLLAR.
Good old Hannibal Lechter himself.
And GATA caught him.
How desperate are these Hannibals? They will do
ANYTHING to prompt gold selling. The problem is that
they are being found out.
The reasons to be bullish on gold are overwhelming; yet
Goldman quot;doth protest too much.quot; That is so because
they and the rest of the Hannibal Cannibal crowd are
trapped with humongous gold borrowings they cannot
This is another Goldman Sachs outrage.
Bugler, sound quot;Carpe diem.quot;
The Internet is changing the world. Be a part of the
change in the gold world. Contact the gold companies to
get behind GATA. Momentum is going our way.
All the best,