Thai Guru's Gold und Silber ... (Informationen und Vermutungen)

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Press Release Source: Sterling Mining Company

Sterling Mining launches district-wide, second-phase exploration program at Sunshine Mine

Monday May 31, 9:00 am ET

http://biz.yahoo.com/cnw/040531/sterling_exploration_1.html

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http://http://www.russiajourna…ws-article.shtml?nd=43993

Citibank reveals a secret about Vladimir Potanin

By John Helmer

May 31, 2004 Posted: 14:50 Moscow time (10:50 GMT)

Doveryai, no proveryai. It’s a hoary Russian maxim, meaning, “trust, but verify.”

Former U.S. President Ronald Reagan often used it, never managing to get the pronunciation right.

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Below the heads of state, and outside the walls of government, the maxim had even more force. This was especially so when, in August 1998, a group of Russia’s most powerful businessmen, the so-called oligarchs, arranged for the state to default on its bond obligations; to cut the ruble adrift from its expensive dollar mooring; and to allow the oligarchs to slip away from billions of dollars of their obligations and failed foreign exchange wagers. Mikhail Khodorkovsky and Platon Lebedev, who in 1998 controlled the Yukos oil company and Menatep Bank, haven’t exactly got off scot-free from Menatep’s collapse. They are now in prison, and on trial for a range of crimes, although the Menatep default isn’t one of them.

Vladimir Potanin’s bank, then called Uneximbank, was another of the defaulters. Freshly painted Rosbank signs appeared in place of Uneximbank after 1998 default. As the head of Interros and controlling shareholder of Norilsk Nickel, he is much wealthier today than he was before the 1998 collapse. He hasn’t been charged with any crime.

Citibank, the flagship of the New York-based Citigroup corporate empire, is not an institution that believes in blame. But its credit committee and legal department don’t readily approve lending $800 million to Potanin without knowing and trusting him.

weiter.....

http://http://www.russiajourna…ws-article.shtml?nd=43993

schuldenblase

Hast Du Dir auch schon einmal überlegt was mit den Silberpreisen passieren wird, wenn sich die europäischen Edelmetall Konten Besitzer bei den Konto führenden Bank, und Finanzinstituten ihr "mehrwertsteuerfrei"gelagert geglaubtes Silber, auf einmal gleichzeitig physisch aushändigen lassen möchten?

Mir ist leider nicht bekannt wieviel Silber, denn nun genau auf europäischen Edelmetall Konten der Banken gesammthaft in den Büchern steht.

Diejenigen die geglaubt haben sich damit die hohe MWST, die in vielen europäischen ändern auf Silber erhoben wird, zu ersparen, werden sich in Bälde noch wundern.

Das von ihnen in den vergangenen 20 Jahren gekaufte Silber ist bei den Banken heute zum aller grössten Teil in keiner Art, und Weise auch nur annähernd in diesen Mengen physisch hinterlegt.

Die Banken garantieren zwar mit ihrer Bonität für die gemachten "Silber Einlagen" ihrer Kunden, doch dieses angesparte Silber physisch an die Einleger aushändigen, das können sie in der Praxis nur, falls die Banken diese riesigen Papier Silber Einlagen physisch am Markt zurückkaufen würden. Was ein solches Vorgehen für die Silberpreise bedeuten würde, darüber darf man solange keine genauen Zahlen verfügbar sind nur spekulieren. Doch eines ist jetzt schon sicher, die Silberpreise würden dadurch sehr stark ansteigen.

Im Prinzip sind Edelmetall Konten bei den Banken, für Silber, oder auch Gold, praktisch nichts anderes als nirgends öffentlich erfasste weitere physisch ungedeckte Shortpositionen von Banken, und Finanzinstituten, die diese Art von Konten ihren Kunden anbieten. Zumuten wäre eigentlich das bessere Wort.

Falls es Anleger geben sollte, die hier gerade mitlesen, die sich "ihr Silber" von Banken auf Edelmetallkonten "aufbewahren" lassen, kann ich nur dringendst empfehlen. sich ihr Silber so schnell wie möglich physisch aushändigen zu lassen, und wenn auch nur zähneknirschend die fällige Mehrwertsteuer zu bezahlen, und das physische Silber an einem sichereren Ort ebenfalls physisch zu lagern.

Nicht wenige Banken bestrafen Kunden die sich Silber, oder Gold physisch von Edelmetallkonten abheben wollen noch zusätzlich mit einer, wie ich glaube, an Wucher grenzenden sogenannten Auslieferungs-Gebühr. Im Falle der schweizerischen UBS Bank werden unverschämte 50.- Franken pro Kilo Silber verlangt. Mann muss sich diese Sachlage einmal richtig vorstellen. Wenn sich jemand, sagen wir mal 30 Kilo Silber vom eigenen Edelmetall Konto physisch abheben will, muss er unglaubliche 1500 Franken Auslieferungsgebühr bezahlen, wenn er sich nicht massiv dagegen zur Wehr setzt.

Warum die Banken eine solche "Schutzmassnahme" vor einer physischen Auslieferung des Silbers von den Edelmetall Konten ihrer Kunden eingeführt haben, muss ich wohl nur noch ganz wenigen Lesern hier im Thread weiter erläutern.

Gruss

Thaiguru

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TSX VENTURE SYMBOL: PLG

MAY 31, 2004 - 08:30 ET

Pelangio Provides Update On Successful Drill Programmes At Detour Lake Camp

http://www2.ccnmatthews.com/sc…pl?/current/0531013n.html

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Exciting Gold Intercepts for First Point at Rio Luna Project

Monday May 31, 9:01 am ET

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 31, 2004) - Dr. Peter M.D. Bradshaw, P.Eng., Executive Chairman of First Point Minerals Corp. (TSXV:FPX) is pleased to announce gold grades from the first two deep drill holes at the Balsamo East target at the Rio Luna gold project in Nicaragua as tabulated below.
------------------------------------------------
Hole # From To Meters Au g/t
------------------------------------------------
DD-RL-21 58.82 61.72 2.90 * 39.75
------------------------------------------------
including 59.76 61.35 1.59 * 68.22
------------------------------------------------
DD-RL-22 85.40 87.69 2.29 * 30.58
------------------------------------------------
including 86.50 87.69 1.19 * 57.62
------------------------------------------------

http://biz.yahoo.com/ccn/04053…c03d35d13044329606_1.html

Goldbugs500

Hoffen wir's

Gruss

ThaiGuru

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http://www.mineweb.net/fast_news/326132.htm

Sino’s deeper drilling intersects more gold

By: Gareth Tredway

Posted: '31-MAY-04 10:00' GMT © Mineweb 1997-2004

Sino Gold, the Australian listed Chinese gold miner, says the latest drilling results on its Jinfeng project, bode well for the June resource estimate.

Deeper diamond drilling, on the F3 fault structure, intersected a downhole length of 6 metres at 10.7 g/t from 705 metres. The company says this is the down-dip extension of the F3 fault, which confirms the structures continuity to about 750 metres. The new intercept is 70 metres below the phase two drilling intercept in hole HDDS0055 of 18 metres at 7.1 g/t.

The new drilling also produced two downhole intercepts of 7.5 g/t from 601 metres and 5.2 g/t from 646 metres.

Sino Gold expects the new mineral resources estimate to be in excess of 3 million ounces of gold. In August 2003, the project resource was estimated at 2.6 million ounces.

Sino Gold, which is China’s largest foreign gold producer, owns 82 percent of the Jinfeng project. The company is looking to obtain a debt facility for the project, has initiated application for a mining licence and other necessary permits, intends to upgrade the access road to the site for $2.1 million and place funding towards the relocation of the 52 households required to move outside of the proposed project area. Gold production is expected in late 2005.

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TSX SYMBOL: AMM

MAY 31, 2004 - 13:45 ET

Almaden Minerals Ltd.: Major Expansion of Prospect Valley Gold Property in Southern BC

http://www2.ccnmatthews.com/sc…pl?/current/0531054n.html

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http://www.mineweb.net/sections/junior_mining/326234.htm

Dragon increases Swedish gold reserves

By: Peter Gonnella

Posted: '31-MAY-04 17:44' GMT © Mineweb 1997-2004

PERTH (Mineweb.com) -- Emerging European-focused Aussie-based gold group Dragon Mining [ASX:DRA] has boosted reserves from its modest Svartliden high-grade gold project in northern Sweden ahead of an anticipated production kick-off in September/October this year.

The company today (Monday) confirmed the US$12.25 million development of Svartliden was more than 50 percent complete and announced that positive results from a recent drilling program had been converted into incremental upgrades in both open pit reserves and the total resource inventory.

Gold reserves were increased 12 percent to 1.63 million tonnes grading 5.54g/t for a contained 287,000 ounces within an overall resource increase of 21 percent to 2.22Mt at 4.54g/t for 324,000oz. Further minesite exploration aimed at testing extensions of the mineralisation further west, to the east and below the current 80m pit design limit is slated to be funded out of operating cash flow, Dragon advised.

"This (production start-up at Svartliden) will be the most important step to date in Dragon’s strategy to develop a significant European gold business," said Dragon’s CEO, Dr James Searle. "The next major steps will come from our rapidly advancing gold projects in Finland – notably the advanced 300,000oz Jokisivu project, which could be in production by late 2004."

Dr Searle added that production schedules for the reoptimised Svartliden open pit plan indicated that the head grade in the first year of operations is expected to average around 7g/t, translating into about 70,000oz of gold output in year one. Production is forecast to then settle into an average of about 50,000oz per annum.

“Svartliden is capable of returning A$0.12-0.20 per share in present value to Dragon before considering exploration potential,” noted respected independent Aussie mining analyst, John Macdonald, who prior to the latest reserves upgrade had estimated Dragon’s 80 percent interest in Svartliden would deliver net cash flow of about A$35 million over the projected initial approximate five-year mine life based on a realised gold price of A$548 per ounce. He said this yield suggests average cash costs of about A$250/oz and total production costs of US$325/oz.

Dragon is also listed on the Frankfurt Stock Exchange [FEX:DRM]. Its Aussie-listed stock added just over seven percent today to finish at A$0.30, which equates to a market capitalisation of A$90.5 million.

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TSX VENTURE SYMBOL: MDW

MAY 31, 2004 - 14:21 ET

Midway Gold Corp. Releases 1st Quarter Financial Statements

http://www2.ccnmatthews.com/sc…pl?/current/0531059n.html

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http://www.lemetropolecafe.com

May 31 - Gold $395.10 up $1.40 - Silver $6.15 up 6 cents

Now Hear This!

The Midas title is to honor, on this Memorial Day, WW II Navy Submariner, my friend and veteran Café member/GATA supporter, Navy George!

WISDOM OF THE NAVAJO

Zitat

A man is driving toward home in Northern Arizona when he comes upon a Navajo man hitchhiking.

Because the trip has been long and quiet, he stops the car and the Navajo man climbs in.
During their small talk, the Navajo man glances surreptitiously at a brown bag on the front seat between them.
"If you're wondering what's in the bag," offers the man, "it's a bottle of wine. I got it for my wife."

The Navajo man is silent for a while, nods several times and says, "Good trade."

That little ditty will certainly get me in trouble with some of our burgeoning number of female Café members, however, I couldn’t resist – it had me chuckling so much.

The London and New York markets were closed today for a holiday so we don’t really know how the oil and gold markets will react to the recent violence in the Saudi oil town of Khobar. Certain minor gold markets were open and bullion rallied $1.40 with silver gaining 6 cents.

The Saudis have given assurance oil supply and their coming production increase will not be affected by the massacre. We shall see. Tell that to the dead oil workers and their families. Three out of four of the murderers even escaped somehow to come back and haunt the Saudi oil industry at a later date. Oil many not rally too much, but the terrorists are coming closer and closer to seriously interrupting the Saudi oil flow. Besides, who in their right mind would want to work there? Also, who in their right mind would want to be short oil, unless hedged with a guaranteed supply source? Time will tell on the oil score.

Meanwhile, this development comes with gold specs the least long in over a year. The small specs are the least long in almost two years. Therefore we have a set up for gold to really rocket as the specs pile in on the long side, especially if gold takes out its 200-day moving average which is nearly $3 higher than Friday’s close.

The Café’s Sentiment Indicator leaped on Sunday after being very so-so for five weeks. This tells me the Saudi oil town massacre will affect those interested in the gold market all over the world.

The silver open interest is down approximately 25 % off its highs at 85,489. With the physical market has tight as it has been in memory, silver could fly at any time.

The caveat for our camp is The Gold Cartel. As we know, gold has become a "reverse barometer indicator." The days when it should most take off, cabal forces sit all over it to calm down financial markets. However, with the potential of 70,000 specs jumping on the long side in the weeks to come, they are going to have their hands full keeping gold down below $400.

There is every reason to anticipate gold and silver taking out their highs made early this spring in the months to come.

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http://www.lemetropolecafe.com

CARTEL CAPITULATION WATCH

I am preparing for my presentation at Joe Martin’s Vancouver gold conference on June 13 and for a group of portfolio/hedge fund managers in Boston in the latter part of June who collectively handle over $1 billion dollars in client funds.

The theme is going to be why it is so important to be aware of what GATA knows and why this knowledge ought to lead to extraordinary investment gains in coming months and years. With the recent events in Iraq and Saudi Arabia, I thought it a good time on this Memorial Day Weekend to pound away at a portion of this theme to Café members. Those who remain short gold and silver for much longer will be memorializing for different reasons down the road.

For my upcoming presentations I am going to hammer home three key points:

*1 - Officialdom has lied to the investment world about what is really happening as far as what is really going on in the gold world.

*2 - They have done so to cover up a vast conspiracy concerning gold held for the world’s public; 11,000 tonnes+ of more than acknowledged CB gold has left the vaults of the central banks in order to artificially suppress the press.

*3 - As a result, this "Gold Cartel" is running out of enough central bank gold to continue their scheme. More than half the central bank gold is GONE! With a growing supply/demand deficit of 1500+ tonnes per year, the price of gold has to explode to bring the supply/demand situation into equilibrium, whether that be next month, or next year!

My presentation won’t go into anywhere near this detail, however, here is some support for just point one. Much of this will be review for vet Café members, yet it even astounds me when I reread what our team has come up with over the years and how it all fits into GATA’s long-standing gold price manipulation and cover-up accusations.

After the price of gold spiked in September 1999, following the surprise Washington Agreement, one which limited the sale of gold by 15 European countries to 400 tonnes per year and held the amount of lending to the existing amount at the time (there was no mention of swaps), the IMF called a meeting of its members in Santiago, Chile. During this meeting, the IMF directed its members to count gold left in its vaults via lending and swapping operations to be counted on their books as bank reserves, i.e., to perpetuate a hoax. GATA’s Mike Bolser made this discovery, in essence, virtually finding The Gold Cartel’s playbook. As a result, Mike and the rest of the GATA ARMY have been all over this ruse for years by exposing this deception with concrete evidence. The horrific ramifications of this disingenuous fraud for the financial world in the years to come will be astounding.

Some examples of the various "officialdom" deceptions:

From GATA’s Andrew Hepburn’s October 23, 2003 commentary at The Matisse Table:

#11. IMF has directed CB’s not to disclose how gold is leased/swapped, only total reserves (proof below).

The IMF has denied this in writing, "This is not correct: the IMF in fact recommends that swapped gold be excluded from reserve assets." Refer

http://www.gata.org/bofi.html, and search for "correct"

However, numerous member countries/entities have proven the IMF has lied ie

• Philippines: "Beginning January 2000, in compliance with the requirements of the IMF's reserves …, gold under the swap arrangement remains to be part of reserves and a liability is deemed incurred corresponding to the proceeds of the swap." Refer http://www.bsp.gov.ph/statistics/sefi/fx-int.htm, and search for "swaps"……

• European Central Bank: "Following the recommendations set out in the IMF operational guidelines of … developed in 1999, all reversible gold transactions, including gold swaps, are recorded as collateralised loans in balance of payments and international investment position statistics. This treatment implies that the gold account would remain unchanged on the balance sheet." http://solutions.synearth.net/2003/02/21….

***

Clearly this reveals the IMF is lying with the ECB unintentionally acknowledging this lie. The fact the GATA ARMY has caught the IMF not telling the truth is bad enough. Then there is the Treasury/Exchange Stabilization Fund, which has also been caught fabrications too thanks to the brilliant work of James Turk (http://www.goldmoney.com), whose discovery made it into Reg Howe’s superb law suit in Boston Federal Court. This was recently rehashed by GATA’s Andrew Heburn and the Netherland’s Mihaly Schroth. Mihaly writes on April 26:

Hi bill,

In the past we had a debate whether or not the Exchange Stabilization Fund (ESF) was active in the gold market (Reg Howe & Andrew Hepburn). A bit from Andrew Hepburn's essay:

The U.S. Treasury explicitly denies that the ESF has been used for gold market interventions. On the "Frequently Asked Questions" section of their website, the following claim is made: "The ESF has not been used to manipulate gold prices. In fact, the ESF has not held gold since 1978."

As noted above, the Treasury claims that, "The ESF has not held gold since 1978." This is demonstrably false. The Federal Reserve's Statement of U.S. Reserve Assets for January 2001 contains the following line item: "Gold Stock, including Exchange Stabilization Fund."

Keep in mind that one month earlier, Reg Howe filed suit against (among others) the Secretary of the Treasury. That might explain why the above line item was altered for the February 2001 Statement of U.S. Reserve Assets to read: "Gold Stock."

As is apparent, the Federal Reserve removed the explanation, "including Exchange Stabilization Fund." No reason was provided when the line item was altered. More importantly perhaps, the Fed has stonewalled repeated inquiries asking why this change was made. While Fed officials have responded to letters on the subject, at no point have they explained the rationale behind the removal of the ESF reference.

http://www.gata.org/On%20The%20Record.html

So, the Federal Reserve altered the Statement of U.S. Reserve Assets. First the ESF was included, and then removed. My guess is they will have to remove some more, because I found the following on

http://minerals.usgs.gov/miner…modity/gold/goldmcs04.pdf

Salient Statistics-United States: 2003e
Stocks, yearend, Treasury 38,140
And now watch the footnote:

3 Includes gold in Exchange Stabilization Fund. Stocks were valued at the official price of $42.22 per troy ounce.

So, how long will it be before they are gonna remove it from this site.

******

OK, now let us go back in time:

BOARD OF GOVERNORS
OF THE FEDERAL RESERVE SYSTEM
Washington, D.C. 20551

June 25, 2001

ALAN GREENSPAN
CHAIRMAN

The Honorable Jim Bunning
United States Senate
Washington, D.C. 20510

Dear Senator:

Thank you for your recent letter requesting information related to an inquiry received from two of your constituents, Mr. and Mrs. Rupert Raymond. The Raymond's letter principally concerns remarks made at a January 1995 meeting of the Federal Open Market Committee (FOMC) by Virgil Mattingly, in his capacity as general counsel to the FOMC. A memorandum addressed to me from Mr. Mattingly on this matter is enclosed for your information. The memorandum responds to the matter raised by the Raymonds in their letter.

I would like to take this opportunity to confirm the statements I made last year regarding the Federal Reserve and gold in a letter to one of your colleagues, Senator Joseph Lieberman. In that letter I said:

"The Federal Reserve owns no gold and therefore could not sell or lease gold to influence its price. Likewise the Federal Reserve does not engage in financial transactions related to gold, such as trading in gold options or other derivatives. Most importantly, the Federal Reserve is in complete agreement with the proposition that any such transactions on our part, aimed at manipulating the free price of gold or otherwise interfering with the free trade of gold, would be wholly inappropriate."

These statements accurately reflect the facts and long standing Federal Reserve policy to gold.

I hope this information is helpful. Please let me know if I can be of further assistance.

Sincerely,
Alan Greenspan

Enclosure

June 8, 2001

TO: Chairman Greenspan
FROM: J. Virgil Mattingly
SUBJECT: Inquiries regarding "gold swaps"

This memorandum responds to your request for information related to recent inquiries the Federal Reserve has received regarding remarks I made at a January 1995 meeting of the Federal Open Market Committee ("FOMC") in my capacity as general counsel.

These inquiries focus primarily on a statement attributed to me that appears on page 69 of the published transcript of the January 31-Feb1, 1995, FOMC meeting to the effect that the Exchange Stabilization Fund ("ESF") has engaged in "gold swaps." Given the passage of time, some six years, I have no clear recollection of exactly what I said that day but I can confirm that I have no knowledge of any "gold swaps" by either the Federal Reserve or the ESF. I believe that my remarks, which were intended as a general description of the authority possessed by the Secretary of the Treasury to utilize the ESF, were transcribed inaccurately or otherwise became garbled. The Federal Reserve's lack of involvement with gold and gold-related financial instruments is set forth accurately in your January 19, 2000, letter to Senator Lieberman, a copy of which is attached. My remarks should not be interpreted as modifying in any respect what is set for that letter.

With respect to activities of the ESF, I note the Treasury Department stated in a recent federal court filing that the ESF has not held any gold since 1978.

-END-

Now, wait a minute! We have just shown above that the ESF HAS HELD gold since 1978. Mattingly, with his "garbled" remark reveals how disingenuous and murky he is as a Fed lawyer. Clearly, he is copping a plea about the ESF when he cites the Treasury Departments incorrect statement, in an attempt to cover his own deceptive butt.

Here is the Howe vs. BIS court filing Mattingly is referring to:

The U.S. Treasury also denied intervening in the gold market. In a court filing dated March 15, 2001, then-Secretary of the Treasury Paul O’Neill asserted:

Although unnecessary at this juncture, the secretary specifically denies that the Treasury or the [Exchange Stabilization Fund] since 1978 has traded in gold or gold derivatives for the purpose of influencing the price of gold or the exchange value of the dollar. In fact, the ESF has not held any gold since 1978.
See http://www.zealllc.com/files/HvBD0001.pdf
-END-
Then, there is the devious Greenspan with his "wholly inappropriate" comment - YES INDEED inappropriate – yet, his words too do not pass any kind of smell test:

On July 24, 1998, Greenspan told the House Banking Committee: "Central banks stand ready to lease gold in increasing quantities should the price rise." He repeated that statement a few days later to the Senate Agriculture Committee:

http://www.federalreserve.gov/…stimony/1998/19980724.htm

Is the Federal Reserve the only central bank Greenspan is NOT referring to. If so, why did he not say so. This is what the Reserve Bank of Australia, whose government is our strategic ally, has to say on this subject on Page 31 of its annual report for 2003:

"Foreign currency reserve assets and gold are held primarily to support intervention in the foreign exchange market. In investing these assets, priority is therefore given to liquidity and security, in order to ensure that the assets are always available for their intended policy purposes."

The Reserve Bank of Australia's admission can be found here:

http://www.shrinkmylink.com/mjkison

Which brings us back to Greenspan. How does he explain this GATA ARMY expose:

These denials do not square with a remark found in a January 1995 Federal Open Market Committee meeting transcript. Responding to a question raised by then Federal Reserve Board Governor Lawrence Lindsey about the legal authority of the U.S. Treasury’s Exchange Stabilization Fund to engage in the financial rescue package for Mexico then under discussion, J. Virgil Mattingly, general counsel of the Fed and FOMC, stated (p.69):

It's pretty clear that these ESF operations are authorized. I don't think there is a legal problem in terms of the authority. The statute [31 U.S.C. s. 5302] is very broadly worded in terms of words like 'credit' -- it has covered things like the gold swaps -- and it confers broad authority. [Emphasis supplied.]
See:

http://www.federalreserve.gov/…ts/1995/950201Meeting.pdf

Hello??? Mattingly??? ESF authorized gold swaps??? This shoots down Mattingly and the US Treasury once again!

Meanwhile, with what we have learned over the past six years, there is no way the Fed has not actively been involved in the gold market for some time. Yes, Lindsey is referring to the ESF, further proof of lying by the Treasury higher ups, however, no way the Fed is not directing some of the activity utilizing Greenspanesque language to define what the real meaning of "IS" is.

Not only do the statements by the ESF, Treasury, Mattingly, and Greenspan not pass the smell test, the above evidentiary material reveals them to be speaking falsehood after falsehood (which would not hold up in any court of law under scrutiny), and that is putting it both mildly and politely. When the gold scandal comes to fruition, all of these characters and institutions should be held accountable.

There has not been a legitimate audit of US gold in 50 years. Congress is up in arms about proper due diligence in the corporate sector and appropriate accounting procedures as a result of recent scandals. Then why won’t they approve a legit audit of the US gold reserves?

There is a good deal more of additional GATA evidence catching these people in their nefarious games, games which are going to terribly harm the average American from a financial market point of view in the years to come.

One of those bits of evidence relates to Fed/Treasury gold swaps and US government covert gold activity caught by GATA’s Mike Bolser, publicized by James Turk, and then covered up by the U.S. Mint in a ludicrous manner:

"Bolstering GATA's allegation that gold swaps may have jeopardized the ownership of a substantial portion of the U.S. reserve is an accounting change made in September 2000. The U.S. Mint reclassified approximately 1,700 tonnes of gold at West Point, New York, to "Custodial Gold Bullion" from "Gold Bullion Reserve." This, of course, suggests that the gold was being held in custody by the mint for its real owner. (Online copies of the August 2000 and September 2000 Status Report of U.S. Treasury-Owned Gold are no longer available. However, a reference to the accounting change is made on the Frequently Asked Questions section of the Treasury’s website:

http://www.treas.gov/education…ional/goldsilver.html#q4.)

"The mint did not explain why the West Point gold was reclassified and the gold at Fort Knox and Denver was not. But before it could be pressed on the issue, in July 2001 the mint redesignated 94% of the U.S. gold reserve as "Deep Storage." Once again, no reason was provided for the accounting change."

Clearly again, the GATA ARMY caught the Treasury and Fed with their pants down. The Treasury panicked and classified all denominated US gold as "DEEP STORAGE GOLD, " so as not to deal with this custodial gold issue any further. As it seems to appear from this comical change of classification, a good portion of our US gold might be gone and could actually be spoken for in surreptitious swap transactions – and could mean our gold reserves are really in the ground to be delivered to the US in the future by the likes of Barrick Gold, etc. Thus, the Treasury/Fed appears to be saying, "you caught us, thus we are covering our big dumb behinds." When you follow this "Mint" classification flow, it reads like Abbot and Costello’s "Who’s On First" routine.

What is most important to understand is that GATA is right and this means the gold loans/swaps are 16,000+ tonnes (as extrapolated over and over again in previous MIDAS commentary), meaning more than half of the central bank gold is already spoken for, which also tells The Gold Cartel is gradually running out of bullets to keep the gold price from exploding. Gold and silver are TIME BOMBS! We have some real gold price excitement ahead of us.

China continues to dominate much of our news:

China Reform Monitor No. 546, May 28, 2004
American Foreign Policy Council, Washington, DC

http://www.afpc.org

Editor: Al Santoli
Associate Editors: Miki Scheidel, Lisa-Marie Shanks

CHINA’S DEMAND DRIVES OIL PRICES HIGHER

May 12:

China is considering diversifying its foreign exchange reserves out of U.S. dollars, according to Guo Shuqing, Beijing’s top foreign exchange manager, reports China Business Weekly. Due to concerns over the weak U.S. dollar, the country’s US$440 billion foreign exchange stockpile is being altered to include more European and Asian bonds. The possibility of Beijing offloading some of its vast U.S. Treasury holdings sends shivers through the investment community, as it risks further deterioration in the U.S. foreign exchange deficit and increases the possibility of a weaker dollar.

Don't believe I've seen this before. GATA's bullishness cited by analyst as a countervailing negative in investor sentiment assessment. You guys are becoming distressingly mainstream...

http://www.schaeffersresearch.….aspx?click=home&ID=10173

-END-

Seems more and more in the mainstream are getting GATA confused with MIDAS commentary.

[Blockierte Grafik: http://www.goldseek.com/news/LemetropoleCafe/lmpc.jpg]

http://www.lemetropolecafe.com

CARTEL CAPITULATION WATCH

Teil II

Hi Bill:

Thought you might like to see some pictures from Mahendra’s presentation and his reception at Sipango in Dallas last Thursday. A special thanks to long time GATA supporter and Café member Nancy Klune, our designated photographer:

[Blockierte Grafik: http://www.lemetropolecafe.com/img2004/mahendra.jpg]

Picture one is myself and my webmaster Mike Cunningham ( those in search of a very good one can reach Mike, also an accomplised pilot, at bipeman@comcast.net). Picture four is of myself and Mahendra. Picture 5 depicts Mahendra speaking to the attendees. Picture 7 is of Nanik Daryanani, who flew in from Spain to meet Mahendra.

A few points concerning Mahendra:

*Mahendra, who has been compared to a Nostradamis-like persona at a VERY young age, is someone who connects with nature. He is not about religion as far as his work is concerned, which he realizes upsets certain conservatives in the US and followers of certain other religions. However, what he emits is certainly about his own spirituality (he does not smoke, drink, is a strict vegetarian, meditates 4 hours a day, supports charities and adopts orphans). Ironically, some of his biggest Cafe fans are devout Christians.

*Most of his major clients are institutional money managers and there are even a few out there with even more mainstream stature.

*A brief review of his market predictions (since this MIDAS may be read by those who don’t read my daily commentary – for those who want to know more they should go to http://www.mahendraprohecy.com

Silver is his number one pick. Look for around $12 this year if silver holds above $7.95 for 21 days. In the years to come, look for $48 per ounce to $98 per ounce.

Gold will trend higher. Could soar anytime after September 4. His target is $1600, then to fall back to a $1,000 new base before advancing again.

Oil could go as high as $100 per barrel. The play is a five year one. The risk reward ratio in the US stock market is lousy. Exit on rallies. Look for the Dow to tank to 5,000 to 7,000.

The US housing market is in big trouble.

Around 10 days ago, Mahendra jumped on coffee and suggested we all do so, which was one of his biggest new positions. It has exploded. Have no clue when he will get out.

To order Mahendra’s 2004 book:

http://www.mahendraprophecy.com/orderform.asp

Ironically, many of Mahendra’s positions have been ones I have expounded on for years. The fact that many of our predictions and posits of what is to come in the financial markets happen to coincide is just the way it has worked out and is MOST comforting to me. Mahendra does his thing. I do mine. Seems a "twane" has been met here. I will continue to do all my own work, however you can bet your booty I will want to know what Mahendra is thinking and what he sees ahead for the financial markets and for the ensuing precious metals bull market journey.

One thing for SURE, if both of us are right and you want to hit an investment home run in gold and silver, then you:

GATA BE IN IT TO WIN IT!

schwejk

Wenigstens haben einige von uns die Möglichkeit selbst zu bestimmen, was das Richtige ist, auch wenn sich dies nicht unbedingt mit den Zielen einiger weniger Lenkenden, und für unser, oder mehr noch ihr eigenes Wohl bedachten decken sollte.

Gruss

ThaiGuru