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Gold Flash25 February 1999
From the World Gold Council
The World Gold Council has urged IMF leaders to lift their ban on member
countries' pegging their currencies to gold.
In a speech to participants at a two-day meeting in New York, organised
by the Re-inventing Bretton Woods Committee, and attended by senior
officials of the IMF, the World Bank, the European Central Bank and
other national central banks, the Council said that efforts by the IMF
THE PRICE OF GOLD SHOULD HAVE GONE UP FROM 1996 AND SO
SHOULD THE PRICE OF OIL, BUT . . .
Jude Wanniski, president of Polyconomics Inc., is an
influential analyst of global and U.S. political
economics. His almost daily essays posted at
www.polyconomics.com frequently relate to gold.
In September 1998 he wrote an open letter to management
and labor at Northwest Airlines, then embroiled in a
TIME MAGAZINE PUBLISHES ANGRY RESPONSE FROM GATA SUPPORTER
G O G A T A Reports: Here is the complete original of the letter by
David Cohen of Los Angeles a GATA supporter -- that is to appear in
the March 8 issue of Time Magazine. The letter is in response to the
February 15 cover story featuring the "Three Marketeers", Fed Chairman
Alan Greenspan, Treasury Secretary Robert Rubin and his deputy Lawrence
Yesterday we reported that RR (Robert Rubin, Treasury), and BB (Bruce
Babbit, Interior) had been held in contempt by U.S. District Judge Royce
Lambeth. RR and BB had failed to produce documents related to a class
action lawsuit over the mishandling of 300,000 Indian accounts worth an
estimated $500 million.
We asked for G O G A T A VIEWPOINTS and more background information
for sharing with GATA egroup members.
Hullo GATA Egroup!
I hope you will come back at me on this G O G A T A VIEWPOINT,
or come forward with your own G O G A T A VIEWPOINT on current
affairs as they effect gold supply and the gold price.
- - - - - - - - - -
THE U.S. AND U.K. WANT THE I.M.F. TO SELL OFF MORE GOLDTO WHOM?
The finance ministers of the G7 countries are meeting in Bonn today,
with world debt, the potential for further meltdown, and gold on the
JIM LINDSEY WRITES: -
In reviewing The Market Mavens Report.com Market Outlook: Gene Inger for
Thursday Feb. 11, I came across this tidbit that you might be interested
"Our view was that the January rallies were the culmination of rewards
for those who agreed the 'fix was in' last Fall, or who don't at all buy
the argument that Gold has to move before anyone's going to worry about
G O G A T A REPORTS
What follows was posted to a small, select group of financial editors in
South Africa and Sweden yesterday, February 16, under the heading The
Gold Price War Hots Up: -
Watch the action on the gold price battlefront with Bill Murphy,
chairman of Gold Anti Trust Action (GATA). GATA charges that Wall Street
bullion dealers are openly breaking anti-trust laws as they collude to
IN COURT IT WILL BE KNOWN WHERE THE BUCK STOPS
Boudewijn Wegerif, GATA vice-chair
The renowned gold analysts Veneroso Associates
(www.venerosogold.com/essays.htm) declared in an Executive Summary
mid-January, a week or so before Chris Powell's Invitation to a Lawsuit:
"The fact that (the price of gold) meets repeated impenetrable
resistance at $300 has set off speculation that the official sector is
Samuel Martirosian (email@example.com) takes up the cudgel for
GATA and writes to CANADIAN INVESTOR re Barrick Gold ABX:
I am a gold investor. The message below has been circulated among the
large gold investing community. Your company (Barrick Gold ABX) was
mentioned along with Anglogold as one of the most damaging companies
that bring devastation to the gold industry overall.
Your habitual gold hedging habits are destroying the gold prices and