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Now that it's unwound, Barron's and Wall Street Journal report gold carry trade
10:12p ET Wednesday, September 12, 2007
Dear Friend of GATA and Gold:
Trust Barron's and The Wall Street Journal to expose the gold carry trade just as it has been unwound and the perpetrators have made safe getaways with billions fleeced from unsuspecting investors.
The exposure comes in an article published by those news organizations today, "A Secret Time Bomb Made of Gold," written by Michael Kahn, chief technical analyst for Bridge News.
You can find it at the Barron's site here:
And the Journal's here:
Kahn writes: "Before even explaining what the gold carry trade entails, let me first say that its demise has been forecast for nearly a decade. In researching this topic, I found articles as far back as 1998 looking for an explosion in gold prices and commensurate damage to other markets, if not the economy. In other words, this is a story that is as old as Methuselah."
As old as Methuselah indeed ... and yet news to readers of Barron's and The Wall Street Journal.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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